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.
Bu hikaye Small Enterprise dergisinin August 2017 sayısından alınmıştır.
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Bu hikaye Small Enterprise dergisinin August 2017 sayısından alınmıştır.
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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.
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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.
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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.
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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.
