Position of the Sri Lankan products in the global market: A comparison of brand values
Brand value is an important concept that provides competitive edge for business. In this exploratory study, we argued that perceived quality is the single most important determinant of brand value, at least in the short run. Through secondary data analysis pertaining to 14 selected countries, we identified the brand value gap that exists between developing countries (including Sri Lanka) and developed countries. We analysed the association between national culture and normalized brand value as well as the association between economic development and normalized brand value, because national culture and economic development are the frequently cited constraints of quality performance, and therefore by extension, brand value. We proposed adapting total quality management (TQM) as a strategy to improve quality and productivity to reduce the brand value gap, considering sustainability obligations of developing countries.
Keywords: Brand value, national culture and economic development, total quality management,
sustainability, Sri Lanka