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Year 2016, Volume: 6 Issue: 3, 551 - 558, 01.05.2016

Abstract

Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry

Year 2016, Volume: 6 Issue: 3, 551 - 558, 01.05.2016

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, Precious Minerals Marketing Company (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.

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Details

Other ID JA54BR93UV
Journal Section Research Article
Authors

Felicia Naatu This is me

Publication Date May 1, 2016
Published in Issue Year 2016 Volume: 6 Issue: 3

Cite

APA Naatu, F. (2016). Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry. International Review of Management and Marketing, 6(3), 551-558.
AMA Naatu F. Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry. IRMM. May 2016;6(3):551-558.
Chicago Naatu, Felicia. “Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry”. International Review of Management and Marketing 6, no. 3 (May 2016): 551-58.
EndNote Naatu F (May 1, 2016) Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry. International Review of Management and Marketing 6 3 551–558.
IEEE F. Naatu, “Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry”, IRMM, vol. 6, no. 3, pp. 551–558, 2016.
ISNAD Naatu, Felicia. “Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry”. International Review of Management and Marketing 6/3 (May 2016), 551-558.
JAMA Naatu F. Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry. IRMM. 2016;6:551–558.
MLA Naatu, Felicia. “Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry”. International Review of Management and Marketing, vol. 6, no. 3, 2016, pp. 551-8.
Vancouver Naatu F. Brand Building for Competitive Advantage in the Ghanaian Jewelry Industry. IRMM. 2016;6(3):551-8.