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Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry

Author

Listed:
  • Felicia Naatu

    (Department of Procurement and Marketing, School of Business and Law, University for Development Studies, Wa Campus, Ghana.)

Abstract

Branding is a crucial component in marketing that determines the success of an organisation. However, developing a successful brand to gain competitive advantage is essentially a marketing problem in the Ghanaian jewelry industry. Globalization and competition especially from Asia and other developed parts of the world results in market share decline, firms’ failure and job losses in the Ghanaian jewelry industry. The objective of this paper was to study the branding strategies of precious minerals marketing corporation (PMMC) and ERNIE’S classic jewelry and how that influences their competitive advantage. Primary data were obtained from management and customers of these two companies through interviews and questionnaires. Descriptive statistics were used in the analysis of the survey data. The results indicate that research and development, internal branding, brand positioning/promotion and customer orientation are the critical branding factors for competitive advantage adopted by the firms. However, PMMC was found to be more competitive compared to ERNIE’S classic jewelry through brand building. The results have several implications and recommendations for firms’ development through branding.

Suggested Citation

  • Felicia Naatu, 2016. "Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry," International Review of Management and Marketing, Econjournals, vol. 6(3), pages 551-558.
    • Handle: RePEc:eco:journ3:2016-03-20
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    References listed on IDEAS

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    1. Philip Kotler & Waldemar Pfoertsch, 2006. "B2B Brand Management," Springer Books, Springer, number 978-3-540-44729-0, July.
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    Cited by:

    1. Giuseppe Colella & Cesare Amatulli & Maria Pilar Martinez-Ruiz, 2020. "Social Media Marketing and Luxury Consumption: A Literature Review," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 11(4), pages 1-30, March.
    2. Derroum Ahmed & Haouati Ouarda, 2021. "Examination of the Role of Corporate Branding in Achieving Business Excellence Requirements in Agencies of Algerian Companies," Economics and Business, Sciendo, vol. 35(1), pages 149-164, January.

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    More about this item

    Keywords

    Branding; Competitive Advantage; Descriptive Statistics;
    All these keywords.

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising

    Statistics

    Access and download statistics

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