Entrepreneurship And The Development Of Global Brands Summary

PATRICIA INZUNZA CASTRO
OCTOBER 11TH, 2012
SUMMARY, COMMENTARY AND CRITICAL QUESTION
ENTREPRENEURSHIP AND THE DEVELOPMENT OF GLOBAL BRANDS
Summary:
The article “Entrepreneurship and theDevelopment of Global Brands” by Teresa da Silva Lopes and Mark Casson published in 2007 by the Harvard College surveys prosperous brands that have changed their path by focusing on marketing knowledge andbranding activities. In this article the industries that are analysed base their promotion on the place that brands are getting in consumers minds, whereas in the past they where using the quality ofthe product as the most important asset for the clients. It explains as well the difference between a traditional entrepreneur and an expanded one. Traditional entrepreneurs create and name brands;on the other hand, expanded entrepreneurs globalize them with marketing knowledge. A company can become internationally successful by many strategies. Another concept that the authors mention in thearticle is the “life of companies”. They state that companies can be managed by the original owners or their families, for example, the Danish Beer Carlsberg and fashion brand Gucci , or they can changeownership by merger and acquisition or by contract such as Nescafé and Kit Kat did, using this as another strategy to succeed in the market.
Commentary:
The new trend stands that the companiesshould view the brands as important mechanisms to convey their values to consumers, and cultivate their loyalty. Throughout the years the companies have changed their strategies to reach theirconsumers, as these are changing generation by generation. The success of these companies has remained because they have used the knowledge of their managers in marketing and branding creating a good positionin the clients mind. I think management in a company is very important to reach its goals, and these companies have done it well by following the trends and the ideas that their managers have had....