Scholarly record

DEVELOPING THE DIGITAL BRAND: CHALLENGES FOR ENTREPRENEURS AND MANAGERS

T. Vasiljeva, D. A. Cine

Abstract

The digital world has become an integral part of life for the majority of the world's socially active population. Topicality of the research could be substantiated by numerous researches [1], [2], [3] clearly stated the extreme importance of enterpriseВ’ powerful brand in a digital era for raising the competitiveness of a company and customer satisfaction. This trend requires every entrepreneur to pay considerable attention to the strategy of building the robust digital brand identifying social interests and focus on value creation [4], [5], [6]. The purpose of the research is to explore and investigate the nature of building and powering the brand based on the expertise of experts. Methodology of the research: Scientific and fundamental literature critical analysis; Primary data gathered by Quantitative method (questionnaire) and Qualitative method (semi-structured interviews), Data analysis and Interpretation of the results. The research period was November 2016 till May 2017. The semi-structured interview contained 37 clearly defined questions, 15 highly professionals in e-commerce, e-marketing and e-communication fields from Latvia were interviewed. For getting higher confidence and trustful of the results 36 brand professionals from various countries (Germany, United Kingdom, Japan, Latvia, Russia, Spain) have sent their responses for on-line structured interview. Three Research Questions (RQ) have been stated while the major results are obtained. The authors of the given research have formulated the conclusions and recommendations for RQ1: What is the best management style in a company for Powering the Brand; RQ2: What are recommended tools for Building Brand Awareness; RQ3: What is the policy for assigning financial resources for Brand Developing and Awareness in a Digital World. Practical implication: the results of the research could be valuable for companiesВ’ leaders and top managers, for marketing, public relation and human resource managers, giving clear recommendation for more appropriate behavior and creation an actions plan for strengthening enterpriseВ’ brand in digital century; it could be valuable also for scientists and students for better understanding the digital transformation and digitalization of the whole business.

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DOI resolver: doi.org/10.5593/sgemsocial2017/15/S05.038

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