Entrepreneurial Brand

Abstract

In today's environment of fierce competition, enterprises must have an entrepreneurial frame of mind to be able to sustain their presence. An entrepreneurial approach, as such, would ensure detection of the changes taking place in the market before competitors and the benefit derived from this would be made available to consumers. On this basis, it can be said that the entrepreneurial approach involves taking risks by being focused on competition and at the same time aspiring to a leading position in the markets by fostering a customer oriented perspective. In this type of understanding, adaptation of an innovative perspective is essentially important in achieving success. In an entrepreneur organizational structure, one of the important factors in achieving success is to be able to establish a strong brand. In addition to introducing a new benefit to the market, being able to consolidate the effects of such benefit by means of a strong brand would ensure successful completion of the entire process. Within this context, it is essential to demonstrate the clear and distinguishing features of the benefit offered in consideration of customer satisfaction, ensuring that these features are sustained while the creativity is being cultivated in the face of the corroding effects of time and the creative destruction that technological advancements cause. At this point, the concept of "Entrepreneurial Brand" makes its presence known as it continues to gain importance. In this study, primarily the importance of creativity and innovativeness in entrepreneurship and brand formation will be emphasized. Then, the long term contributions that an entrepreneurial brand can make to achieving competitive advantage in the markets will be elaborated. Finally, within this context, the strategies that could lead to success will also be stated. (C) 2015 Published by Elsevier Ltd.