Branderpreneurship
Branderpreneurship[1] is about synergizing entrepreneurial spirit and the mindset of branding. It could be called as a brand development-based enterpreneurship. This assumed that entrepreneurs actually have strong beliefs about a business opportunity and organize their resources effectively to accomplish the outcome that changes existing interactions.[2] One of those opportunities that can be exploited by an entrepreneur in developing a business is the opportunity to create more values through business’ brand development[3] both corporate or product brand,[4] even himself (personal brand). Brand development is required because the brands create value for customers by helping them navigate the choice process.[5] Hence the application of Branderpreneurship is worth to be considered by entrepreneurs. This concept of Branderpreneurship was firstly introduced by Bambang Sukma Wijaya in the International Conference on Business and Communication (ICBC) 2011.[6]
Branderpreneurship is an application of targeted and integrated brand development strategy by maximizing existing resources to support business development so that provides added value to entrepreneurship (Wijaya, 2011).[7] As attitude model, Branderpreneurship also can be defined as a tendency of the mental attitude to synergize the entrepreneurial spirit with the branding mindset by optimizing values development to support ‘high-impact’ business performance.[8] There are several strategic steps in the development and management of values[9] as the core of Branderpreneurship, this process is called the Circle of Values Development (Wijaya, 2011)[10]
Circle of Values Development[edit]
Branderpreneurship concept refers to the stages as set out in the ‘Circle of Values Development’:[11] starting from identifying values, creating values, delivering values, communicating values, maintaining values, evaluating values to upgrading values. Branderpreneurship concept is very useful for novice entrepreneurs or SMEs[12] that are developing their business so that the business brand more quickly recognized by the public,[13] which would have an impact on increasing business profits.[14]
Branderpreneurship Framing Analysis[edit]
In analyzing and evaluating the application of Branderpreneurship, Wijaya (2012) proposed a method of Branderpreneurship Framing Analysis,[15] by analyzing the indicators in the variables or elements contained in the Circle of Values Development, among which are: identifying values (consumer insights, market competitive insights, brand insights), creating values (functional, emotional, symbolic, social values), delivering values (online, offline), communicating values (what-to-say, how-to-say, where-to-say), maintaining values (customer retention and loyalty), evaluating values (brand performance, competitor’s reaction towards products, consumers, channels), upgrading values (on products, consumers, channels, communication, business).
See also[edit]
References[edit]
- ↑ This term was firstly introduced in the International Conference on Business and Communication (ICBC) 2011 by Bambang Sukma Wijaya in his paper entitled 'Branderpreneurship: A Brand Development-Based Enterpreneurship'. http://icbc.atmajaya.ac.id
- ↑ As mentioned by Sharma, G., Saxen,P. & Ailawadi, S. (2010) in 'Entrepreneurial Branding'. Journal of Synergy, 3 (1)
- ↑ Relevant reading: Morel, M. (2003). Promote Your Business. New South Wales, Australia: Allen & Unwin
- ↑ Kapferer said that having a great product (high quality) is not enough in this modern era of competition. See: Kapferer, J.N. (2008). New Strategic Brand Management: Creating and Sustaining Brand Equity Long Term. USA: Kogan Page
- ↑ Doyle noted this in the Doyle, P. (2008). Value-Based Marketing: Marketing Strategies for Corporate Growth and Shareholder Value. West Sussex, England: Wiley
- ↑ held in Jakarta, 23–24 November 2011
- ↑ Wijaya, Bambang Sukma (2011). “Branderpreneurship: A Brand Development-Based Enterpreneurship”, Proceeding International Conference on Business and Communication, Jakarta, 23–24 November 2011
- ↑ Wijaya added this another definition of Branderpreneurship in later paper: Wijaya, Bambang Sukma (2012). “Communicating and Developing Brands with Branderpreneurship Mindset”, Proceeding Jogja International Conference on Communication (JICC), Yogyakarta, 21–22 November 2012
- ↑ It had been actually mentioned by DeBonis, et al. in: DeBonis, J. N., Balinski, E. W. & Allen, P. (2002). Value-Based Marketing for Bottom-Line Success: 5 Steps to Creating Customer Value. USA: McGrawHill and by Doyle in: Doyle, P. (2008). Value-Based Marketing: Marketing Strategies for Corporate Growth and Shareholder Value. West Sussex, England: Wiley
- ↑ Wijaya completed DeBonis, et al. and Doyle works by adding several steps or elements in the process of values development and bring them into the context of branding related to entrepreneurship.
- ↑ Wijaya, Bambang Sukma. “Branderpreneurship: A Brand Development-Based Enterpreneurship”, Proceeding International Conference on Business and Communications (ICBC) 2011
- ↑ To understand how important is branding for SMEs, it's suggested to read: Abimbola, T. & Vallaster, C. (2007). Brand, Organizational Identity and Reputation in SMEs: An Overview. Qualitative Market Research: An International Journal,10 (4)
- ↑ Rode, V. & Vallaster, C. (2005). Corporate Branding for Start-Ups: The Crucial Role of Entrepreneurs. Corporate Reputation Review, 8 (2)
- ↑ Further reading: Lodish, L.M., Morgan,H.L.,& Kallianpur, A. (2001). Entrepreneurial Marketing: Lesson from Wharton’s Pioneering MBA Course. NY: John Wiley & Sons
- ↑ This method was firstly applied on analyzing the case of an SME’s Beauty Care. See: Wijaya, Bambang Sukma & Mirana Hanathasia (2012). 'The Branderpreneurship Analysis of SME’s Beauty Care: A Case of Waxing Corner Salon', Proceeding National Seminar on Enterpreneurship and Business Innovation (SNKIB) II), Jakarta, 18 September 2012. Read the article completely on http://www.knolsearch.com/ebook/JrmcJFjJQJqnxUJCpmOnGZ8iqLZ4wQe91yRyqeXJboO_qEEZUiuQU7DCDcCN0_7TsGqgx76SsXeREvO1LnsgPlA4ucfn1e_rn5vWeqJVJ5OXhpJd_JxS8u8kXN3sbGjJCBsud1bcmtmBKpS9096pM5FbG1oUmMhPbaiG-HAKSFU/ANALISIS-BRANDERPRENEURSHIP-PADA-UKM-PERAWATAN-....html
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