SME brand management : a lack of business skills, financial support and human resources

Abstract

Brand management is a means to building a strong brand and enhancing business performance. This research project aimed to investigate how brand management is exercised in SMEs in Laos especially in the handicrafts sector and to identify obstacles in building a successful brand for the SMEs. This study employed a semi-structured interview as a data collection method for a qualitative research approach. A total of 10 participants were interviewed in Laos. The study has found that SMEs in Laos create their brand identity through the visions and values of business owners. Unique and quality of the products and the country of origin are the key aspects for building and developing brand identity. A majority of the SME entrepreneurs do not have particular knowledge relating to branding and brand management. The SMEs still face a number of difficulties when creating, developing and managing their brands due to a scarcity of budget and a lack of human resources.