Researchers from The Wharton School of the University of Pennsylvania and the Owen Graduate School of Management at Vanderbilt University have published a new paper in the Journal of Consumer Psychology that offers fresh insights into “brand purpose” and its potential benefits to consumers.
The article, “Conceptualizing brand purpose and considering its implications for consumer eudaimonic well-being,” is authored by Patti Williams, Jennifer Edson Escalas, and Andrew Morningstar.
In response to industry reports, apparent consumer demand, and high-profile calls from top executives including BlackRock Chairman and CEO Larry Fink, brands have publicly begun pursuing purpose beyond profit. Brands in a wide variety of categories have sought to define, articulate, communicate, and act according to their “brand purpose.”
The authors define brand purpose as a brand’s long-term aim central to “identity, meaning structure and strategy” that leads to productive engagement with some aspect of the world beyond profit.
This research team explores the different types of well-being consumers may experience by engaging with brands they believe reflect their own values. Specifically, they focus on eudaimonia, a feeling of fulfillment resulting from living a meaningful life, contributing meaningfully to society, and acting in alignment with moral virtues.
Their framework cites five mediating factors that affect the relationship between brand purpose and consumer well-being: consumer purpose, meaning and significance, self-acceptance/achievement of true self, positive relationships, and other-praising emotions.
The article suggests that, if a brand adequately addresses moderating factors, the potential benefits to consumers and marketers are considerable. These factors include consumer trust, brand authenticity, brand credibility, commitment to purpose, consumer-value congruence, and brand-purpose proximity. While consumers may gain a vital sense of well-being; marketers, may secure positive brand judgements, brand loyalty, and brand evangelism.
“The ultimate goal of our review,” the authors write, “is to guide future consumer psychology research into brand purpose, a concept that we believe may have a transformative impact on business, consumers, and society.
Full article and author contact information available at: https://myscp.onlinelibrary.wiley.com/doi/10.1002/jcpy.1324
About the Journal of Consumer Psychology
The Journal of Consumer Psychology publishes top-quality research articles that contribute both theoretically and empirically to our understanding of the psychology of consumer behavior. The Journal is intended for researchers in consumer psychology, social and cognitive psychology, judgment and decision making, and related disciplines. It is also relevant to professionals in advertising and public relations, marketing and branding, consumer and market research, and public policy. Published by the Society for Consumer Psychology since its founding in 1992, JCP has played a significant role in shaping the content and boundaries of the consumer psychology discipline. Dr. Lauren Block (Lippert Professor of Marketing at the Zicklin School of Business, Baruch College) serves as the current Editor-in-Chief.
About the Society for Consumer Psychology (SCP)
The Society for Consumer Psychology is the premier voice to further the advancement of the discipline of consumer psychology in a global society. Building upon the Society's excellence in mentoring young behavioral scientists, the SCP facilitates the generation and dissemination of intellectual contributions and promotes professional development and research opportunities for its members around the globe. Dr. Gita V. Johar (Meyer Feldberg Professor of Business at the Columbia Business School, Columbia University) serves as the current President.
Journal of Consumer Psychology
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Conceptualizing brand purpose and considering its implications for consumer eudaimonic well-being
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