Brand Management Article Review

Introduction analyze Teresa da Silva Lopes & Mark Casson (Winter, 2007). Entrepreneurship and the Development of ball-shaped Brands Business History Review 81 by The President and Fellows of Harvard College (Extract from page 651-680) Worlds deliverance in early 1980s leaded to the nuclear fusion wave in business industries. Only somewhat independent spots have survived during that period. In the denomination, the authors addressed the interrogate of why so few independent give aways survived and they overly aim to address ab come to the fore the contribution of entrepreneurs to the sure-fire and growing of the companies.The authors also of demonstrated some long-familiar crisscrosss and their related case of how did the multifariousness in proprietorship affect the dirt name. Summary Entrepreneurship and innovation is a competitive asset for to each one organization. In the agone time, entrepreneur refers to the founder of the business, but the definition was sp read out overtime. In the article, authors define entrepreneur as soul who specializes in taking judgmental decisions about the coordination of infrequent resources with an economic aim and under conditions of uncertainty. This means that the entrepreneur is not necessarily a capitalist or the founder of a business, but is someone who is not afraid of risk and who gets things done and has an economic aim. Because of the changing in business environment, today entrepreneur has more(prenominal) skills, business related k at one timeledge and capabilities in expanding their reproach into different geography or internation tout ensembley or reinstate it in influence to grip the popularity and comfort hand a benefit. Brand is a powerful strategic implement to distinguish come with from its competitors, propound to customer and attract customer loyalty.A flaw bottom have a rise, and then f any out of favor, to be out of date by the stretch of new marker. Trajectory of grunges or the life of each brand is surely depends on the attach tos performance and strategies they decide to take in perform so as to create brand personalities for their products or inspection and repairs. Without careful care, brands abide follow the general physical body of a product lifecycle moving through introduction, growth, maturity, and disdain stages in a relatively rapid fashion. Authors quest that the change in brand ownership or management squad whitethorn take into accounting when discussing about trajectory of brands.Thus to keep the brand always young is necessary mission that each company need to achieve. Some brands become palmy directly aft(prenominal) introduced into the grocery and it re master(prenominal)s successful until now under the single ownership and management team but some become successful after their previous ownership or management team was changed. Various strategies are suggested by the author as they are implemented by several successful brands such as the extension of an lively brand (Asahi Super Dry), or by the creation of a new brand, or by forging a compromise between the two (Nescafe).The dissolute whitethorn also hire new managers and consultants in aim to boost temporarily the creative resources at the starchys disposal (as happened in the case of KitKat). other strategy suggested is to change the unfluctuatings enlisting policies and hiring new managers with stronger entrepreneurial capabilities to obtain a steadfast solution. Furthermore, using merger and acquisition strategy to change the brand ownership enable some multi- sozzled brands oddly the companies in food, drink, and cosmetics industries become successful and stay young.Brand greening in the article refers to tweaking the brand compute to address to a new generation of consumers. Rejuvenation of the brand should be take into action when customer in the market lose their concentration on the existing one or the traditional mar ket 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 suited to the culture, demand, preference of different root word of customer and to create availability of the products they want wherever they are.Based on the study, the authors conclude that successful global brand usually originate in developed countries. It takes genuinely long time to puddle their brand personalities and recognition. Strategies of brand extensions that we often see are merger and acquisition, franchising, licensing and some brands are trades as pieces of intellectual property. Critic prejudicially charged Brand rejuvenation is a strategic tool for the company to recapture market apportion and to keep the brands up to date for consumers, but not all brand should be rejuvenated since due to two main closes.Firstly, some brand is very harmful to community health and society. For employment , tobacco and alcohol products have galore(postnominal) harmful effects are not hold to only health-related issues but as well as a whole society will provide from its effects. Smoking cigarettes opens the possibility to the mountain that are most you to breathe second-hand smoke. This increases the risk of cancer in others almost you. Also, smoke is bad for the environment and the ozone layer whereby mountain who drink and drive may cause some road accident and they tend to commit furiousness in the family more that mountain who do not.Secondly, the negative point of brand rejuvenation is the decrease in physical communication due to the growth in technology related branding. In the past, people throw off more time to talk to their friends, colleges and family but presently, digital form of communication decrease social interaction. Because the outgrowth of technology, many company try to rejuvenate their brand by introducing high- tech product to the market. Most peopl e believe that technology such as cadre phones and e-mail has made their lives easier. From e-mails, to Facebook, to television, people are congruous 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 internet I do not interact with people well-nigh at all within whole day. batch are distancing themselves from life off- line. This create distant of people interaction from day to day. Positive We totally cope with with the authors who state that entrepreneurs contribute to the growth of a firm and brand succeeds and innovation, intelligence and skills are the required factors to build a successful brand. Brand building is an grave issue in strategic marketing and brainish force for shareholders value.Good brand image and brand recognition in the market is what all entrepreneurs and managements intend to get. The growth and education of a firm mostly dep ends on the motivation and ambition of the owner itself. Among the primary(prenominal) features of an entrepreneur that effects the firm growth involves general background of the owner involving age and breeding of the owner along with his growth motivation and management know how organizational practices on the behalf of entrepreneurs. Innovative intellection and technological capabilities of entrepreneur also the contribution factors that each entrepreneur should care about.We also agree with the authors that brand rejuvenation is a great tool to make more notes. Brand rejuvenation is the effort to start out a brand which could not make money into the one that can flummox money for company by using new office or communication strategy. Normally, companies decide to rejuvenate their brand in order to respond to internal and external changes. For example when new competitors come into the market, they may have interpreted over the category and the company is struggling to gen erate revenues from the current product, thus company need 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 remove time to rejuvenate the brand in order to recapture the market share. Some other reason why company should rejuvenate their brand is to flip the negative image of the existing brand, to incorporate in new mission or develop a new brand when repositioning. Moreover, the target 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 needs or desires, where in the consumer has shifted to a different platform.Conclusion After recital 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 success. The authors provide e nough reasons to support their article by indicated real example of some study brand how they are developed to become the global 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.