A Framework For Embedding A Strong Brand-Oriented Culture And Its Implications For Enterprises: African And European MSMEs’ Evidence

Anotace

The brand phenomenon, or simply brand building, amongst other interventions for the private firm, is well-recognized for the valuable role it plays in today’s market competition. Research has, however, shown that for the firm ranging from micro to small- to medium-size enterprise (MSME), their business owner-managers often tend to grossly underestimate the power of building a strong brand name in the marketplace. All this suggests that if the MSME is quite serious about enhancing its capacity to compete profitably in the medium to long-term, among others, it has got to pay considerable attention to (corporate) brand building process in general and in particular that of the development of a strong brand-oriented culture (BOC hereafter) in the first place. The greater argument here is that by embedding a strong BOC, the MSME stands a better chance to not only stay reasonably competitive, increase its revenue streams, increase its visibility in the marketplace, but that it will also increase its chances of survival in the event of any economic downturns.