Brand Franchise.
Author: yinkaolaito
Yinka Olaito is happy,excited and passionate Brand Communication, Social Media expert, Trainer and speaker. Yinka Olaito helps brands(Profits and Non-profits)with effective communication and positioning for premium service delivery and returns.Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage consulting and African Child Right Inc.Lagos Nigeria
Brand Franchise is the devotion, allegiance, fidelity reliability that attaches to a well-managed brand. Brand franchise presupposes that the services/product of a brand enjoys strong consumer demand. This can allow the brand to offsets the brand’s cost by raising prices. Any brand that does not has brand’s franchise value will be forced to compete on a price basis. In this regards the price is always lowered to fight the leader. Brand franchise gives the benefit of becoming prosperous.
In the corporate and investing world, brand franchise means an exclusive contract between a merchant, trader, seller and the brand name owner to distribute and sell services, products of the owner in a specific market. Brands with a high brand franchise value will always benefit greatly from it. Brand franchise often gives the advantage of making the name of the brand that has it become the name used for the category.
There are factors that guarantee brand franchise value
- Be the first in the category: when you are the first in a category, your name comes to mind first.
- Be current, fresh: to ensure fidelity, the brand name must continue to be current with market needs, meet it and go beyond the demands of the market. Always come up with fresh ideas because the underdogs are not sleeping.
- Commitment to fidelity: fidelity is a word commonly used in marriage. we know this requires commitment, discipline. Be sure the brand operates a disciplined ethics with regards to corporate behaviours.
- Evokes positive emotions: To do this successfully requires hard work. At each contact point with the brand, there is need to ensure that positive emotions are daily created. If this is not done, brand equity will be reducing until there is nothing left to desire.
There are few brands (personal, corporate) that have gained this status in our clime. uac franchising (Mr.Bigg) is one, we want our community to make their comments on the recent performance of this brands as we understand Kentucky Fried chicken is coming to town next year. Let us encourage this local brand. Your comments will get to appropriate authorities that manage the brand.
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