Professional Documents
Culture Documents
African Entrepreneurs
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TABLE OF CONTENTS
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OVERVIEW OBJECTIVES
which provide brief but in-depth analysis and synthesis of the networking.
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A brand is the way a product, company, or individual is perceived by those who experience it. Much more than just a name or a
logo, a brand is the recognizable feeling these assets evoke.
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The topics and contents covered in this chapter are; BRAND IDENTITY AND VALUE
➢ Evolution Of The Brand Concept: Brand Identity, Value
➢ Proposition And Perception? Brand identity and value are consciously or unconsciously
➢ Brand Dynamics: The Brand World created by the brand owners and passed on to the
➢ Leveraging The Brand: Positioning consumers; who translate or given meaning and relevance to
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Dynamic brands are often called living brands, because they Positioning refers to the place that a brand occupies in the minds
physically change or move, reflecting the very definition of of the customers and how it is distinguished from the products of
dynamism. A dynamic brand is imbued with more energy; to drive the competitors. It is the means by which a company creates a
change, movement and flexibility. A successful brand has and sustainable competitive advantage.
exhibits the quality of mutability, that is, it is continually evolving,
changing, and adapting to globalization and new technologies. BRANDS IN BUSINESS NETWORKING
Thus, the mutability of a brand or its ability to change is drawn from
its dynamism.
For brands to create emotional connection between the
customers, investors, tourists, products, services and businesses,
BRAND LEVERAGING countries and regions there is need to engage brands in business
networking.
Brand leveraging is the strategy to use the power of an existing
Business networking is the art of establishing beneficial relationships
brand name to support a company's entry into a new but related
with clients and other people so that you can realise, develop and
product category by communicating valuable product
act on available opportunities.
information to the consumer.
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This chapter and its topics, provide understanding of the relational index between the communication
process and brands. The communication process births the communication model.
The Communication process starts with the transmission of message by a communicator and end with
receiver’s feedback. A communication model evolves when the communication process is represented
through a line or picture, or pictorial presentation.
The simple model of communication consists of a sender, message and receiver. These are examined; as
they relate to brand proposition and positioning.
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The primary purpose of business networking is to tell others about your business and hopefully turn them into customers. This ultimately,
increases business revenue. A highlight of types of Business Networking Organizations include; Strong Contact Networks, Casual
Contact Networks, Community Service Clubs, Professional Associations, and Online/Social Media Networks.
The latest amongst these is the Online/Social Media Networks and there exist several groups of online/social media networks used
purely for businesses that often use modern tools such as chatrooms to connect with entrepreneurs around the world. Online/social
media networking enhances digital marketing and the bigger your Brand, the more effective audiences of social networking would
Benefits of business networking are; to maintain business relationships, identify opportunities for partnerships and joint ventures, and
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This is the last chapter of our Module lecture on Building Enduring Brand and Business Networking. The topics herein, essentially focus on
the brand or business owner or entrepreneur. Treated in detail are the expected qualities, skills and disposition that would ensure his
business success; growth and profitability.
Interpersonal communication is the process by which people exchange information, feelings, and meaning through verbal and non-
verbal messages: it is face-to-face communication. Interpersonal communication is not just about what is said - the language used -
but how it is said, and the non-verbal messages sent through tone of voice, facial expressions, gestures and body language.
Our lecture/study highlights the various uses or objectives of interpersonal communication. These include; to give and collect
information, influence the attitudes and behavior of others, form contacts and maintain relationships, express personal needs and
understand the needs of others, make decisions and solve problems; amongst others.
For interpersonal communication to be effective, there are some imperatives which are highlighted in our lecture. These include self-
awareness, ability to learn and grow, communication and influence. Furthermore, our study capture and highlights the various skills
required for interpersonal communication.
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For a brand owner or entrepreneur, dominating and We define confidence as a factor which comes from feelings of well-
succeeding in business, requires having dreams, goals being, acceptance of your body and mind (your self-esteem) and belief
and a purpose in life. in your own ability, skills and experience. Thus, the entrepreneur must
have self-confidence.
A company is in existence to strive to meet its MANDATE:
vision, mission, value offerings, statutory and official Building self-confidence requires positive thinking, practice, training,
responsibilities. knowledge and talking to other people and these could be major
players in achieving success in business.
An Entrepreneur's Mandate entails a strategic process
with operational tools and wisdom to apply to realise the Being self-confident means; trusting in yourself and your abilities; being
business dreams and goals. assertive and able to take initiative on tasks and handle pressure without
too much stress; willing to take on new challenges in the workplace and
The Entrepreneur must follow strategic directions to
able to successfully complete tasks on time and on budget; having a
achieve set goals and targets; post profits and, probably
high sense of self-esteem and being more productive.
experience and overcome some business challenges.
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RESOURCES
Exercise 2 Your organization has just introduced a new product into the market, what strategies and means would you
adopt to reach out to your target customers and how will you ensure new customers are also created?
Exercise 3 You company manufactures liquid soap, and a fake or adulterated brand of your product has just been
introduced into the market, what measures will you adopt and implement to ensure your customers distinguish
between your product and the adulterated brand? .
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RESOURCES
Founded in 1895 by the German immigrant Ignaz Schwinn, the firm led the U.S. bicycle for many years. In the
1960s, one out of every four bikes sold in the United States was a Schwinn. Towards the end of the 1980s, however,
everything seemed to fall apart. Sales dropped from 1 million bikes in 1987 to 500,000 in 1989. Market share
declined from 10% in 1983 to less than 4% in 1992.
Between 1989 and 1992, the company lost around $50 million. By end of 1992, the SCHWINN BICYCLE COMPANY
filed for Chapter 11 bankruptcy signaling the end of one of the best renowned brand names in the U. S.
Questions:
i. Mention 4 factors that made the SCHWINN BICYCLE Brand successful at the outset?
ii. To what extent did business networking influence the rise and fall of the Brand?
iii. If you are appointed as the company’s CEO, what measures would you recommend to revive the ailing brand?
In 1970, Richard Branson and few friends founded Virgin Records as a small mail-order company in London,
England. The partners chose the name Virgin because of their youthfulness and lack of business experience. Within
thirteen years, however, the company grew into a chain of record shops and the largest independent label in the
United Kingdom. The 1990s saw the retail business grow to include more than a hundred Virgin “megastores”
sprinkled around the world.
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In February 1984, a young lawyer approached Richard Branson with a proposal to start a new airline. Virgin’s
board of directors considered the idea absurd, but with Branson’s persistence, the first Virgin Atlantic airplane took
off from London’s Gatwick Airport.
Richard Branson gave the Virgin Brand an attractive value proposition: “To provide all classes of traveler with the
highest quality of travel at the lowest cost”.
Though compact in outlay, the Virgin Atlantic brand enjoys the consumer awareness and reputation as large
international carriers. For example, a 1994 survey showed that over 90% of all British consumers had heard of Virgin
Atlantic. Focus groups consistently show that Virgin is a trusted brand with innovative products and high service
value standards.
i. What are the factors that influenced the established of the Virgin Brand Identity?
ii. “…Virgin’s board of directors considered the idea absurd”. Adduce reasons why and, for Richard Branson’s
persistence.
iii. Define your company’s products or service offerings. What lessons can you draw from the Virgin Atlantic
creation to become a successful, dominant Brand?
Further Reading http://www.coursera.org Brand Management: Aligning Business, Brand and Behavior
Links http://www.thebalancecareers.com The Most Important Skills for Networking
www.courses.lumenlearning.com Effective Communication in Business
https://drive.google.com/file/d/1NbSBCYNjgjWqsG2KGr4h4ozHWsNnq7lp/view?usp=sharing
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Thank you!
THANK YOU!
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