Any franchise system has two main objectives that are to build a strong and trustworthy brand and second is to recruit loyal customers. In order to build a strong brand, both franchisor and franchisee have to work together to send a consistent and positive message to the current and prospective customers. This is the reason why franchisors develop a strict policy for the use of their trademarks and control the marketing and advertising material as well.
Importance of trademarks and marketing material: Franchisors spend a good amount on trademarks. A lot of thought process and designing efforts go into the formation of trademarks, advertising materials, and slogans, the name of the products or services and much more. All these factors provide an identity to the brand. This is why franchisor chooses to legally protect everything associated with the brand or the company. It is very important for the franchisees to use the trademark, brand name and other material associated with the franchisor under strict guidelines established by the company.
When a franchisee misuses the trademark or any material associated with the brand, it not on the harm the brand but also jeopardize the whole franchise model for every single franchisee associated with the brand. To make sure such drawbacks do not happen, franchisors provide the trademarks in electronic format with proper guideline along with dos and don’ts to make sure nothing is out of the place.
In many cases to keep the trademark and advertising artwork safe, many franchisors choose to provide the printed material themselves to the franchisee. In case the franchisee wants to create own artwork and include the franchisor's trademark in it, proper approval is necessary.
Marketing from the franchisor’s end: In most of the cases, franchisors have their own national plan for the advertising of the products or the services. The national plan includes printed material, ads in newspapers, television and radio, ads on social media, and other formats. The public relation department of the franchisor often handles the complete PR campaigns nationwide. In the case of international brands, the companies hire local PR agencies to handle the promotions and provide proper guidelines to ensure equal exposure in every location.
هذه القصة مأخوذة من طبعة August 2017 من Small Enterprise.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة August 2017 من Small Enterprise.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Job Creation: Startups Starting Up!
Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
Importance Of Technology For SMEs
We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.
Importance Of Digital Economy
Economic activities that result from billions of interactions between individuals, businesses, data, devices, and processes constitute a digital economy and India is well on its path to becoming a digitally advanced economy. Driven by cheap data cost, faster connectivity, and affordable smartphones, India had over 1,160 million internet subscribers in February 2020, as per the Telecom Regulatory authority of India (TRAI), second only to China.
India's Economic Growth – Can The Startups Redefine?
Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
ENTREPRENEURSHIP EDUCATION FOR BUDDING MINDS
In the present economic situation, having knowledge of an academic subject is no longer sufficient for a new graduate. Students are increasingly required to have skills and abilities which will increase their employability, such as: the retrieval and handling of information; communication and presentation; planning and problem solving; and social development and interaction.
CHALLENGES OF ENTREPRENEURSHIP DEVELOPMENT IN INDIA
The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
HOW INNOVATION PLAYS AN IMPORTANT ROLE IN THE PERFORMANCE OF SMEs? WHAT ARE SOME INNOVATION FACTORS TO FOLLOW?
Innovation in a business must respect the business strategy in terms of the SME's long-term missions, visions, and goals and is systematic implementation procedures and changes to improve the products and services your company offers. The innovation implementation ensures an appropriate response in terms of increased sales and enhanced customer satisfaction. The image strengthening of your firm will lead to better customer relations with your company and at the same time provide financial stability for the company.
ECONOMIC REFORMS THAT CAN CHANGE THE ENTREPRENEURIAL ECOSYSTEM
The year 2021 marked 30 years since economic liberalisation surfaced in India and writing on this occasion, the richest man of India; Mukesh Ambani said that bold economic reforms such as ending the license –quota raj, liberalisation of trade and industrial policies, freeing up capital markets and financial sector helped our GDP grow ten folds since 1991 and India transformed from an economy of scarcity in 1991 to an economy of sufficiency in 2021.
ROLE OF WOMEN ENTREPRENEURS IN INDIA – THEN AND NOW
As per the 2019-20 annual report of the MSME ministry, among 63.3 million MSMEs that India has, women–owned 20.4% of them up from 13.72 % in 2013-14. This data supports the fact that there has been growing acceptance of women in entrepreneurial roles but it hasn’t always been the case.
TECHNOLOGY AN ENABLER FOR SMALL BUSINESSES
Today times are such that firms operate in a dynamic environment and they must act dynamically too, at least firms should keep an eye on obsolete processes and technologies and replace them with updated versions to stay competitively ahead.
