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Importance of brand strategy in stakeholder communication and satisfaction (A study on fashion retail company's stakeholder management)

Ramesh, Devchandan Naidu (2022) Importance of brand strategy in stakeholder communication and satisfaction (A study on fashion retail company's stakeholder management). Masters thesis, Dublin, National College of Ireland.

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Abstract

The purpose of the research is to critically analyse the importance of brand strategy in stakeholder communication in order to attain the attention of stakeholders in the fashion retail sector. The present study has focused on analysing the impact of brand strategy on the satisfaction level of stakeholders and depicted the strategic direction to engage stakeholders in the operation process. The research has involved the main question regarding the importance of having effective brand strategies in attaining stakeholder satisfaction for Primark. It has been identified that stakeholder theory has benefited in analysing the perspective of business ethics and management in order to determine if the various actors are negatively impacted by the actions of stakeholders. Moreover, the stakeholder theory has benefited in understanding the importance of collaboration and engagement of stakeholders in the operation process. The research has focused on obtaining data and information through conducting primary data collection methods. Further survey is beneficial to gather first hand raw data regarding the subject area from the participants. In addition, 100 customers of fashion retailer Primark can effectively provide in-depth understanding of the impact of brand strategy on the stakeholder communication and overall engagement of stakeholders in the operation process. Based on the analysis of previous literature, it is evident that stakeholders play a major role in the success of business and also, long-term stakeholder engagement and satisfaction are required for fashion retailers to stay competitive in the market. Moreover, Primark as a fashion retailer has focused on engaging customers through their brand strategy in order to increase the promotion and sale of the products. From the findings, it is clear that preferences for shopping depend on individual customers. There are many people who prefer shopping from the fashion brand Primark. From the responses, it is evident that usage of product, online and personal methods of branding are responsible for developing important branding strategies which aid all the brands in making a differentiation. It is useful for increasing customer influence by purchasing specific products and making a differentiation. There are many respondents who are of the view that creation of videos can attract customers. Research limitation and recommendation has also been mentioned in the study.

Abbreviations: BI (Business intelligence), UK (United Kingdom), SMM (Social Media Marketing), CAM (Collaborative Adaptive Management)

Glossary: Brand strategy, Stakeholder communication, stakeholder engagement, promotion

Item Type: Thesis (Masters)
Uncontrolled Keywords: Brand strategy; Stakeholder communication; stakeholder engagement; promotion
Subjects: H Social Sciences > HF Commerce > Marketing > Branding
H Social Sciences > HF Commerce > Marketing > Consumer Behaviour
H Social Sciences > HD Industries. Land use. Labor > Specific Industries > Fashion Industry
Divisions: School of Business > Master of Science in International Business
Depositing User: Clara Chan
Date Deposited: 25 Jul 2022 12:20
Last Modified: 25 Jul 2022 12:20
URI: https://norma.ncirl.ie/id/eprint/5695

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