Analysis of the effect of branding in social media to purchase intentions of consumers related to entrepreneurial ventures and small business in Sri Lanka

Abstract

Though many entrepreneurial ventures can produce better products and yet they are unable to compete in the market due to failures in brand management. Strong brands that were able to generate a loyal customer base and manage their business processes in the long term would eventually increase their sales in the future. Due to the challenges of managing brand activities, the research will bring into focus a critical evaluation of branding and how it impacts consumers’ purchase intention. In any economic system, entrepreneurial ventures play a very important role. Due to the newness of their businesses, their brands are not recognized by most people. Branding is an important strategy for building a strong reputation, especially for those who have not established an identity or have no proper customer base. Social networking sites are emerging platforms in this current era that help to influence consumers’ purchase intentions and communicate with them. Most of the previous studies have focused on brand management of already established and successful brands. The objective of this study is to investigate the effect of branding in social media on customers’ purchase intentions related to entrepreneurial ventures and small businesses in Sri Lanka.