Branding of Time as a New Direction in Tomorrow’s Management

Summary

The text is dedicated to the memory of Prof.Janusz Teczke

Abstract

Time is the most precious good. The human civilization has improved through the management of time. Even in prehistorical societies, the understanding of time was set up by leaders guessing its importance. It was especially the human who had an idea of stopping time, which can essentially be seen in mythology and tales. The importance of the representation of a time span through painting and writing has been and still remains the need of humans. The Stonehenge and other mega structures were erected by gatherers and hunters to measure time. People are interested in how black holes are organised not because all of them share an interest in astronomy but rather due to the fact that some believe that black holes actually stop time. Time is always with people, people are concerned about time. The marketing of time forms a new era, but the branding of time which is the topic of this article is an entirely new phenomenon. Is it possible to brand time span, or to brand time in general?

Our assumption was that if time could be sold and bought, it could be branded. The research hypothesis is that companies have not made strategic brand management of their time as well as managers undertaking branding of their time have fallen into chaos. The study was conducted in two stages. We used convenience sample in telephone interview CATI, calling Georgian companies. Stage one involved a pilot study of time branding cases. Stage two consisted in inviting respondents to a marketing research laboratory at Caucasus International University for a qualitative marketing research. We used historical analyses as the approach to secondary marketing research.

The research finding is that time not only can be branded but it is obvious that Strategic Brand Management of Time can bring big advantages and additional profits for those who own this scarce resource.

Keywords: branding of time, time marketing, strategic brand management of time

Introduction Time branding was the main idea of this marketing research study. There are few scientific papers about time branding, but evidence of this phenomenon can be seen in our culture and traditions.