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Improving Business Performance Through Brand Management Practice

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  • Saša Veljković
  • Djordje Kaličanin

Abstract

The aims of this study are to determine which variables are common as brand management practices, how these variables affect a company’s business performance, and whether there are statistically significant differences between companies in the sample in terms of individual elements of the Brand Management Practice (BMP) model. The research took place in Serbia, and comprised 118 managers and specialists involved in marketing and brand management. After validating the proposed BMP model, we found a link between certain variables of the model and companies’ business performance. There are statistically significant differences between companies in terms of individual elements of brand management practice, and we identify three clusters: brand-guided companies, emerging brand companies, and brand-agnostic companies. They differ from each other in terms of: brand-oriented approach, innovativeness, brand support activities, unique marketing offers, marketing channel relationships, brand performance measurement, brand barriers, company size, and specific business area of a key-brand. They also differ according to estimated and actual business and financial performance. The results are valuable for explaining the main drivers of good brand management practice and their effects on business performance in different industry sectors. The implications for managers of domestic companies are also discussed.

Suggested Citation

  • Saša Veljković & Djordje Kaličanin, 2016. "Improving Business Performance Through Brand Management Practice," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 61(208), pages 137-168, January -.
    • Handle: RePEc:beo:journl:v:61:y:2016:i:208:p:137-168
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    References listed on IDEAS

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    1. Peterson, Robert A, 1994. "A Meta-analysis of Cronbach's Coefficient Alpha," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 21(2), pages 381-391, September.
    2. Kevin Lane Keller & Donald R. Lehmann, 2006. "Brands and Branding: Research Findings and Future Priorities," Marketing Science, INFORMS, vol. 25(6), pages 740-759, 11-12.
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    Cited by:

    1. Gonzalo Maldonado-Guzman & Jesus Francisco Mellado-Siller & Edith Reyes-Ruiz, 2018. "Brand Management and Business Performance in Mexican Small Business," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 8(3), pages 1-16, August.
    2. Gonzalo Maldonado-Guzmán & Víctor Manuel Molina-Morejón & Raymundo Juárez-del Toro, 2023. "Brand Management Measurement in Mexican Small Firms: Empirical Evidence," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 13(5), pages 1-7.

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    More about this item

    Keywords

    brand; brand barriers; brand management; business performance; financial performance; Serbia;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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