Brand Management Article Review

Introduction check out Teresa da Silva Lopes &038 Mark Casson (Winter, 2007). Entrepreneurship and the growing of Global gulls Business History check into 81 by The President and Fellows of Harvard College (Extract from rapsc to each oneion 651-680) Worlds economy in early 1980s leaded to the coalition wave in business industries. scarce few independent taints have survived during that period. In the word, the origins addressed the question of why so few independent prints survived and they withal charter to address about the contri bution of enterprisers to the productive and increase of the companies.The authors also of demonstrated both(prenominal) soundly-known mark offs and their relate drive of how did the replace in monomania affect the betray name. Summary Entrepreneurship and innovation is a war-ridden asset for each organization. In the gone measure, enterpriser refers to the founder of the business, but the exposition was expanded overtime. I n the article, authors define entrepreneur as both(prenominal)one who specializes in pickings judgmental decisions about the coordination of scarce resources with an economical aim and under conditions of uncertainty. This means that the entrepreneur is not necessarily a capitalist or the founder of a business, but is close toone who is not afraid of guess and who gets things done and has an economic aim. Because of the changing in business environment, today entrepreneur has much than skills, business related knowledge and capabilities in expanding their blot into different geography or internation completelyy or rejuvenate it in order to give the popularity and still cast a make headway. Brand is a powerful strategic tool to distinguish smart set from its competitors, communicate to client and attract client loyalty.A mark off domiciliate have a rise, and then fall out of favor, to be out of date by the bring forthr of new-fashioned brand. Trajectory of brands o r the smell of each brand is surely depends on the conjunctions performance and strategies they influence to repel in action so as to create brand personalities for their products or services. Without c arful circumspection, brands can follow the habitual pattern of a product lifecycle locomote through introduction, growth, maturity, and decline stages in a relatively rapid fashion. Authors indicate that the transpose in brand proprietorship or management police squad whitethorn take into account when discussing about trajectory of brands.Thus to keep the brand forever young is necessary mission that each family acquire to achieve. both(prenominal) brands become sure-fire right off after introduced into the mart and it remains self-made until now under the single ownership and management team but approximately become successful after their preceding ownership or management team was counterchanged. Various strategies atomic number 18 suggested by the author as the y are implemented by several successful brands such as the extension of an alive brand (Asahi top-notch Dry), or by the creation of a new brand, or by hammer a compromise between the both (Nescafe).The steadfast whitethorn also lock new managers and consultants in order to throw out temporarily the creative resources at the steadfastlys disposal (as happened in the case of KitKat). Another strategy suggested is to change the firms recruitment policies and hiring new managers with stronger entrepreneurial capabilities to obtain a permanent solution. Furthermore, employ merger and acquisition strategy to change the brand ownership enable some multi-firm brands especially the companies in food, drink, and cosmetics industries become successful and stay young.Brand greening in the article refers to tweaking the brand image to appeal to a new generation of consumers. Rejuvenation of the brand should be take into action when customer in the market lose their tautness on the exi sting one or the traditional market for a brand may stagnate, unacceptable to an emerging market for the brand or there is an increase in demand for products or services, because in order to be well fit to the culture, demand, preference of different group of customer and to create availability of the products they want wherever they are.Based on the study, the authors conclude that successful planetary brand usually originate in buzz offed countries. It takes truly coherent time to build their brand personalities and deferred payment. Strategies of brand extensions that we frequently see are merger and acquisition, franchising, licensing and some brands are trades as pieces of intellectual property. critic Negative Brand rejuvenation is a strategic tool for the company to experience market share and to keep the brands up to date for consumers, but not all brand should be rejuvenated since out-of-pocket to cardinal main reasons.Firstly, some brand is very insidious to sight health and edict. For manakin, baccy and alcohol products have many harmful set up are not restrict to only health-related issues but as well as a whole society will suffer from its effects. Smoking cigarettes opens the hypothesis to the people that are around you to come about second-hand smoke. This increases the risk of cancer in others around you. Also, smoke is bad for the environment and the ozone mould whereby people who drink and drive may cause many road slash and they tend to commit violence in the family more that people who do not.Secondly, the veto point of brand rejuvenation is the drop in physical communication due to the growth in technical schoolnology related branding. In the past, people throw more time to talk to their friends, colleges and family but presently, digital form of communication decrease genial action. Because the development of technology, many company get wind to rejuvenate their brand by introducing high- tech product to the market. Most people entrust that technology such as cadre phones and e-mail has made their lives easier. From e-mails, to Facebook, to television, people are becoming dependent on technology we cannot live without our iPhones.As a real example that happen to myself, sometimes I spend a whole day in bedroom just to tweet, facebook and surfing net I do not interact with people around at all within whole day. People are distancing themselves from life off- line. This create distant of people interaction from day to day. Positive We wholly agree with the authors who state that entrepreneurs go to the growth of a firm and brand succeeds and innovation, intelligence operation and skills are the required factors to build a successful brand. Brand building is an classic issue in strategic merchandising and driving force for shareholders value.Good brand image and brand recognition in the market is what all entrepreneurs and managements designate to get. The growth and development of a firm mostly depends on the motivation and dreaming of the owner itself. Among the important features of an entrepreneur that effects the firm growth involves general stage setting of the owner involving age and education of the owner along with his growth motivation and management know how organizational practices on the behalf of entrepreneurs. innovative idea and technological capabilities of entrepreneur also the contribution factors that each entrepreneur should veneration about.We also agree with the authors that brand rejuvenation is a great tool to energize more money. Brand rejuvenation is the apparent motion to bring a brand which could not make money into the one that can repay money for company by using new positioning or communication strategy. Normally, companies decide to rejuvenate their brand in order to respond to ingrained and external changes. For example when new competitors come into the market, they may have taken over the category and the company is struggling to generate revenues from the current product, thus company acquire to rejuvenate their brand or new option has to be launched.Another reason is when the existing product or service is in declining stage of product life cycle, it is an seize time to rejuvenate the brand in order to recapture the market share. Some other reason why company should rejuvenate their brand is to shed the ostracize image of the existing brand, to incorporate in new mission or develop a new brand when repositioning. Moreover, the keister market for the brand has aged so the brand has to renew its positioning in the minds of the next generation of consumers. Because brand may no longer meet the consumers need or desires, where in the consumer has shifted to a different platform.Conclusion After reading and reviewing this article, we got more ideas on how branding is very important for each company in generate the profit in long term, how entrepreneur contribute to the firm growth and succes s. The authors provide lavish reasons to support their article by indicated real example of some major brand how they are developed to become the globular one. The authors indicate two main strategies for brand development which are entrepreneurship and brand rejuvenation. Brand rejuvenation can lead the company to capture market share as well as to compete in the market effectively in the long run.