JOURNAL OF BUSINESS DIVERSITY

Family Business Succession: The Impact of Customer Relationship

Management and Customer Based Brand Equity on Firm Success or Failure

Author(s): Catherine Ashley-Cotleur, Sandra K. Kauanui, Carol J. Gaumer

Citation: Catherine Ashley-Cotleur, Sandra K. Kauanui, Carol J. Gaumer, (2013) "Family Business Succession: The Impact of Customer Relationship Management and Customer Based Brand Equity on Firm Success or Failure," Journal of Business Diversity, Vol. 13, Iss. 1/2, pp. 108 - 118

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This paper addresses second generation family business and the necessary nurturing required to sustain

current customer relationships and existing brand equity. As power is transferred from the founder to the

next generation, family stresses, organizational issues, and leadership characteristics of the successor

take center stage. Established relationships with customers, suppliers, and employees may not receive the

necessary attention, thus negatively impacting hard-earned brand equity. Failure to nurture customer

relationships may cause the loss of key stakeholders, contributing to second generation business failures.

Reasons for relationship and equity deterioration are examined, along with suggestions for future

research. The purpose of this paper is to reconcile two distinct marketing strategies: customer relation-

ship marketing with brand equity.