Prof. Mary Jo Hatch from the University of Virginia in United States of America has said that developing countries have the potential to create world class and successful business company brands.
She made the remarks at the National university of Rwanda (NUR) during a public lecture under the theme: “Building corporate brands in developing countries.”
According to Hatch, Corporate branding is the practice of using a company’s name as a product brand name.
“It is an attempt to use corporate brand equity to create product brand recognition. Corporate branding is not limited to a specific mark or name; it can incorporate multiple touch points.
These touch points include; logo, customer service, treatment and training of employees, packaging, advertising, stationery, and quality of products and services,” she said.
She explained the role of corporate brand in business visa vis her experience at Carlsberg Group which started as local company in Denmark, but is now a world renowned brewery group.
She elucidated how Carlsberg started working locally in Denmark then afterwards became successful to be ranked among top five largest brewery groups in the world.
The success of corporate brand is based on answers to the questions like who we are. What others think of us. Where are we coming from what do we stand for, etc…?”
“In developing countries especially in Africa and Asia, there are business ideas and education is growing. This is a great opportunity for entrepreneurship which may help to create global corporate brands.”
Reacting to the lecture, participants focused on connecting theoretical knowledge on entrepreneurship with practice. Prof. Mary Jo Hatch replied that the connection of theories with practice is a global problem but the role of researchers is to help others to find a way of connecting theories with practice.
Prof. Rama Rao, Dean of the faculty of Economics and Management which hosted public lecture stated that this faculty is committed to produce entrepreneurial leaders who are able to link theories with practice.
He gave an example of how NUR assisted Coffee farmers of Maraba to produce a global brand of coffee.
This public lecture was attended by NUR students, academic and administrative staff, a representative of Huye district, Private Sector Federation and a Care International in Southern Province.