Reviewing the Concepts of Brand Community, Brand Tribalism and Brand Cult on Relationship Marketing in Sri Lankan Building Material Sector
Keywords:Brand Community, Brand Tribalism, Brand Cult, Industrial Products, Relationship Marketing.
With a complicated, dynamic, and fiercely competitive business climate and consumer culture, firms must address the challenge of sustainable relationship marketing. The concepts of brand community, brand tribalism and brand cult can be considered as most productive business strategy in relationship marketing in the Sri Lankan building material sector to enhance brand equity of the respective brands. By the mid-2010s, the brand community had developed into a major component of the business. Developing a strong brand community is a critical first step toward achieving the objective. Notion of relationship marketing at the dawn of the twenty-first century, "the concept of brand community occupies a critical place" and merits consideration, to return to the beginning. Brand communities are defined as unique, non-geographically oriented social structures centered on a brand. Thus, the brand tribes or tribalism can also derive from the brand communities. People's tendency to make purchasing decisions based on shared brand values is known as brand tribalism. Members of a brand tribe are more than just customers; they are also promoters and believers. Brand tribes are capable of collective activities with postmodern business significance. Brands that build a committed following among a relatively limited group of individuals are known as brand cult. These customers aren't just fans of a brand, they're as committed to it as cultists are to their follower. The majority of industries associated with significant sectors are already in the mature stage of their product life cycles, and gaining new clients is unlikely to increase profitability. Nonetheless, the hunt of new economic development drivers has garnered considerable attention. As a result, these leading firms and sectors make a concerted effort to entice loyal clients to make more purchases, while initially attempting to decrease brand conversion rates and concentrating on non-members. According to the Research Consultancy Beuro Report in year 2018 ,it shows that cement, cables, tiles, pipes, and paints, products very much significant contributors in Sri Lankan building materials sector. Therefore, the researcher justifies that there is a research gap on impact of brand community, Brand tribalism and brand cult on relationship marketing in the Sri Lankan building materials sector.