BRAND STRATEGIES IN
THE ERA OF SUSTAINABILITY

Aleksandar Grubor and Olja Milovanov

University of Novi Sad, Faculty of Economics in Subotica
Subotica, Republic of Serbia

INDECS 15(1), 78-88, 2017
DOI 10.7906/indecs.15.1.6
Full text available here.
 

Received: 19 October 2016
Accepted: 26 February 2017
Regular article

ABSTRACT

Today, brands are powerful instruments of change. They are tightly connected with consumers all over the world and profoundly incorporated into their everyday life and choices they made. Consumers indicate with brands they love and strongly advocate the ideas that are embedded in their philosophy and image. Consequently, companies that own successful brands, which are followed by large group of loyal consumers, have the power to generate modification and even complete shift in consumers' lifestyle, value system, attitudes and behavior. Accordingly, environmentally friendly brands are inevitable element of sustainable marketing strategy and sustainability concept, given that its implementation requires changes that will trigger mass rather than individuals. However, regardless of positive opinion about socially responsible practice on the market, attitude - behavior gap is widely present among consumers, making segment of green consumers just a market niche. Thus, the most challenging task for marketing and brand managers is to find interest for consumers in a sustainable way of life and to make it easy accessible and attractive for them. This article aims to highlight the leading role of sustainability in branding theory and practice and to point out strategies for successful implementation of green values into the brand management, with an accent on brand equity construct, relying on the results of research and analysis in the given field.

KEY WORDS

brand management, green branding, sustainability, sustainable development, sustainable marketing

CLASSIFICATION

JEL:M31


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