In today’s world, there is much discussion around branding and its importance, but not everyone fully understands its impact on society. Brands shape and change our perceptions, influencing our lives and values daily. From ancient times, people have used brands in the form of specific names and symbols to identify things, shaping perceptions and feelings about them. Even countries and cities act as brands with unique reputations and associations formed over time. The obvious question is how to use brands to our advantage, especially in business, to gain a competitive edge. In the age of globalization and increased competition, branding can make a significant difference when choosing one company over another. Whether B2B or B2C, people naturally seek a sense of belonging, and brands are the most effective way to provide this feeling. This thesis focuses on this topic, emphasizing that B2B companies recognize the benefits of investing in a brand and building brand equity. Services, an emerging and vast market, are increasingly considering this strategy. The thesis covers the available literature on brand equity for B2B service providers, highlighting the real benefits and expected challenges of embarking on this journey of brand equity building. It explores specific frameworks tailored to service-specific businesses, presenting them as comprehensive processes adaptable for building brand equity. Furthermore, the literature findings are supported by empirical data collected through interviews with B2B service representatives. These interviews provide real-life examples of how companies manage their brand equity journeys, addressing both benefits and challenges. The goal is not only to demonstrate the importance of branding but also to provide concrete examples of its application in today's technologically advanced world. In a nutshell, this thesis underscores the critical role of branding in the B2B service sector. It provides valuable insights and practical strategies for building strong brand equity, emphasizing that in a competitive and rapidly evolving market, a well-developed brand can be a powerful differentiator. The research concludes that embracing brand equity is essential for service providers to achieve long-term success and sustain competitive advantage.
Date of Award | 2024 |
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Original language | English |
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Supervisor | Birgit Margareta Hollaus (Supervisor) |
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Building strong brand equity in B2B service industries - from challenges to practical solutions
Leahu, B. (Author). 2024
Student thesis: Bachelor's Thesis