‘Purpose beyond profit’ benefits brands and consumer well-being

By our News Team | 2022

There are different types of well-being consumers may experience by engaging with brands they believe reflect their own values.

Researchers from The Wharton School of the University of Pennsylvania and the Owen Graduate School of Management at Vanderbilt University, both in the US, 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, entitled ‘Conceptualizing brand purpose and considering its implications for consumer eudaimonic well-being’, is authored by Patti Williams, Jennifer Edson Escalas, and Andrew Morningstar. (Editor’s Note: ‘Eudaimonic well-being’ refers to the quality of life derived from reaching full potential and fulfilling goals).

Brand Purpose

Photo by Godisable Jacob from Pexels

In response to industry reports, apparent consumer demand, and high-profile calls from top executives, 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.

Consumers experience different kinds of well-being

The research team explored the different types of well-being consumers may experience by engaging with brands they believe reflect their own values. Specifically, they focused on eudaimonia, a feeling of fulfilment 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: 

  1. Consumer purpose. 
  2. Meaning and significance. 
  3. Self-acceptance/achievement of true self.
  4. Positive relationships.
  5. Other-praising emotions.

These findings suggests that, if a brand adequately addresses moderating factors, the potential benefits to consumers and marketers are considerable. These factors include:

  1. Consumer trust.
  2. Brand authenticity.
  3. Brand credibility.
  4. Commitment to purpose.
  5. Consumer-value congruence.
  6. 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 say, “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.”

You can find out more about the research paper here.

Dr Kin Kariisa

Group CEO - Next Media

Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

  • Other current and previous roles played by Dr Kin Kariisa:
  • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
  • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
  • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
  • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
  • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.