BRAND DEVELOPMENT - A WAY TO OVERCOME THE CRISIS

Cristina Petronela Simion, Cătălina Monica Alexe and Gheorghe Militaru
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Cristina Petronela Simion: Faculty of Entrepreneurship, Business Engineering and Management, Management Department, University POLITEHNICA of Bucharest, Romania
Cătălina Monica Alexe: Faculty of Entrepreneurship, Business Engineering and Management, Management Department, University POLITEHNICA of Bucharest, Romania
Gheorghe Militaru: Faculty of Entrepreneurship, Business Engineering and Management, Management Department, University POLITEHNICA of Bucharest, Romania

SEA - Practical Application of Science, 2014, issue 3, 548-553

Abstract: The purpose of the present paper is to highlight that within contemporary economy, the market is built on brands rather than products. The market became an universe full of colors, names, logos and taglines. The brand resides within the hearts and minds of customers as being the sum of their perceptions and experiences upon the company’s promise. Consequently, looking at brands like Apple, Microsoft, IBM who understood that technological innovation must be sustained by strong communication and developed emblematic brands, also Romanian IT companies must pursue similar goals in developing own brands. Current research, backed-up by the case study, substantiates that IT companies who proved to be creative and aligned their communication strategy onto their activity profile not even successfully survived the economic crisis but even managed to outgrow the competition.

Keywords: Brand development; Economic crisis; Market; Customers (search for similar items in EconPapers)
JEL-codes: M37 (search for similar items in EconPapers)
Date: 2014
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