Branding: A Social Contract between a Business and Its Customer

Robert McMurrian and Judith H. Washburn

Chapter 1 in Contemporary Thoughts on Corporate Branding and Corporate Identity Management, 2008, pp 5-22 from Palgrave Macmillan

Abstract: Abstract This article proposes social-contract theory as a useful framework for understanding the relationship between businesses and customers. The authors suggest that customer-perceived value increases when businesses practice ethical behaviours that bridge the gap between business and customer communities. The authors make the case that customer value, created through brand-building efforts, leads to long-term profitability and competitive advantage. This article is the first to suggest that social-contract theory explains the mechanism by which customers perceive brands as promises.

Keywords: Business Ethic; Customer Satisfaction; Social Contract; Brand Equity; Ethical Norm (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-58322-1_2

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DOI: 10.1057/9780230583221_2

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