The Approach of Well Know Branding for Creating a Competitive Advantage
The purpose of this study was to investigate the approach of well know branding for creating a competitive advantage. This study is of a mixed type research integrating both qualitative and quantitative methodology. The quantitative data were collected from 500 industrial business executives. Descriptive, referential, and multivariate statistics were used to analyze the data. It was found that the investigated the approach of well know branding for creating a competitive advantage consisted of 4 elements prioritized according to the calculated means as followed: organization change, content management, innovation and technology and channel communication, respectively. The most important guideline item found in each element was: adapting branding strategies in accordance with the changing environment; the branding content reflecting the true identity of the brand; creating a database of innovations and technologies related to brand designs for search convenience, study information on the use of other corporates’ brand communication channels in the past, respectively. As for the hypothesis test, the study showed that the informants in large, medium, and small enterprises differently recognized the importance of the approach of well know branding for creating a competitive advantage at the statistical significance level of 0.05. The analysis of the developed structural equation model revealed that it passed the assessment criteria and was consistent with the empirical data. The calculated values of probability of chi-square, the relative chi-square, the index of consistency, and the root mean squared error of approximation were 0.143, 1.106, 0.961, and 0.015, respectively.