论品牌并购在企业战略实施中的应用+

上海交通大学硕士学位论文论品牌并购在企业战略实施中的应用姓名：曹颖峰申请学位级别：硕士专业：工商管理指导教师：余明阳20080601WTOTCLIBMIBM70SEB.-:.75%THEAPPLICATIONOFBRAND’SMERGERSANDACQUISITIONINTHECOMPANY’SSTRATEGYABSTRACTTheword“Brand”camefromancientNorwegianlanguagemeans“theproductswithsigns”.ThereareneverscarcebrandsinChina.WegotthemeaningofBrandandfeeltheirhugepowerfromlotsofChinesebrandsfullofournationalwisdomlikeDukang,Maotai,Tongrentang,zhangyu,quanqudeandsoon.NowwiththeChineseentryofWTO,moreandmoreChinesebrandsarerelatedwiththesignsof“lowpriceandpoorquality”ButmeantimewearegladtoseemoreandmoreChinesebrandsareonthewaytotheglobe.WhenHaier,Lenovo,Huawei,ZhongxinandTCLgotbetterbrandreputationandhadbiggermarketshareindomesticmarket,moreinternationalbrandsarealsoputtingtheirfocusonChina,thebiggestconsumermarketintheworld.M&Ameansmergersandacquisitions,withtheentryofinternationalcapitalanddevelopmentoflocalcapitalandfinicalmarket.M&AhascloserrelationshipwithChinesebrands.LenovogotIBM’ssectionofpersonalcomputerbyM&Ain2004.LenovorapidlyexpanditsmarketshareindomesticandinternationalmarketbythehighreputationandstrongsaleschannelofthebrandofIBM.NowmoreandmoreWesternpeopleknowLenovowhichcamefromChina.HayaopharmacygroupgotfamousSanJingbrandwhichwasexportedtoothercountriesbyacquisition.ThroughthisactionHaoyaopharmacygroupbecameaonlistcompanyinstockexchangemarket.Sanjingbrandre-builtitsbrandimage.TsingtaoBeergotseveralbeerbrandsfromXian,ShanghaiandGuangdong.FourintegratedbeerbrandsmakeTsingtaoBeerstrongerandleadingbrandofChinesemarket.Atthesametime,foreignbrandsusetheirstrongmarketingexperienceandhugeinternationalcapitalpowertogotlocalChinesebrandsbyM&A.GoldmansachsgotChineseNo.1meatfoodsbrand“ShuangHui”,CarlyleGroupgotChineseNo1projectengineeringmachinebrandXuGong.SEBgotChineseNo1kitchenappliancebrandSupor.ManyChinesemarketingobserverscalled“Wolfiscoming”.ManyexcellentChinesebrandsarebecomingvanishordiminishable.InthebookTothewayofMonopolyandOligopoly:MergerofNobelprizeowner,GeorgeJosephStigierhestressedthatitwasaobviousandprominentphenomenathatacompanybecameagiantbyMergersandAcquisitionstoreplaceanddestroyhiscompetitors.Accordingthecasestudyandresearch,Morethan75%brandsM&Afailedtoincreasetheirbrandvalueorgetintegrationeffect.Thisarticlewillgiveanoveralldefinitionandresearchforbrand’sM&AbyanalysisandresearchofBrandvalueevaluation,thestrategyofbrand’sintegrationafterM&A,gametheoryanalysisandsoon.Ideeplybelievedthatwiththecombineofintangibleassetsandrecreationofvalue,M&Awillmakeintangibleassetsbecometangiblevalueandprofit.StrategicusingofM&Awillincreasebrands’marketshareandcustomers’recognition.Chinesebrandswillbecomemorepowerfulanddominantintheglobalmarketinthefuture.Keywords:MergersandAcquisition,Brand,Strategy,BrandEvaluation2008MBA111BrandsmergersandacquisitionP.S.19201994565001.2MBA21-1Figure1-1TheConstructoftheDissertationMBA321:BRANDR1960AMA22221(2080)10(2090)IT1993(2000)“”“”“”“”“”“”“”“”21MBA4“”2.2.2.-...,..:1).2008,,2)...3).,2.32.3.12007,:,,:,.,...ADIDASNiKE..”Baidu””Google”””200660%GOOGLE,.,.2.3.2·4“”,.,.,.TCL,..IBM,2008.INTERBRAND2007.LENOVO59%..2.3.3,10.,,.NBAMBA5MBA631LVMHGroupSWATCHGroup311LVMHGROUPLVMHLV50%70%20071231LVMH577.72006LVMH31.8429.5%LVMHLVMH;“LV”;LVLVMH(Kenzo)CelineLoeweThomasPinkDonnaKaranMarcJacobsEmilioPucciStefanoBi(Berluti)LVLVMH(Chaumet)(Zenith)(Omas)(Ebel)4.74PerfumesLoewe2001LVMH6BlissHardCandyBeneFitCosmeticsUrbanDecayMakeUpForEverFreshLVMH199625DFS1997(Sephora)2000eLuxuryLeBonMarchéSamaritaineCruiseLineHoldingsCo.D.I2001ConnaissancedesArtsArt&AuctionLVMH2007·(AstonMartin).07115LVMHMBA73-12007LVMHFigure3-1SalesRevenueofLVMHGroupQ32007(LVMH)MBA83-2LVHMFigure3-2BrandPortfolioofLVHMGroup3.1.2SMHGroupSMHGROUPSMH3-3SwatchBreguetBlancpainJaquetDroz•GlashutteOriginal/UnionLeonHatotOmegaLonginesRadoTissotCalvinKlein•CertinaMidoHamiltonPierreBalmain•FlikFlakEnduraSwatch2080198420061231SMH0650.5MBA93-3SWATCHGROUPFigure3-3BrandsofSwatchGroup(Swatch)SMH3-43-4SWATCHGROUPFigure3-4BrandsPositionChartofSwatchGroup322007200718%17002580050%MBA103-5Figure3-5TrendsindexofBrands’M&AinChina()3.2.12007“”2.3%“”3.7%3-13-12007Table3-1TypesofChineseBrands’M&A25%9.8%6.375%13.9%4.166.7%9.2%5.733.3%17.6%3.370.6%12.9%4.629.4%13.3%4.1()3-11MBA1123MBA124.1:4-1merger“123”.-:.,..”,,4-1Figure4-1DefinitionofM&A4.24.2.1MBA13ADIDASReebokLVMH(Sephora)4-24-2Figure4-2TypeOfM&ADuringDifferentBrands’lifecycle4.2.24.2.3MBA144.2.44.2.54.2.64.2.74.34.3.1:MBA15;4.3.2ABABBA4.3.3:;.4.44.4.1124-3MBA164-3Figure4-3Modelof5ForcesbyPorter4.4.29090WTO4.4.3SKMBA174-11963Table4-1therelationbetweenCRrateandProfitRateofUSCompanyin19631963CR4(%)10~2020~3030~4040~5050~60=6014222421113506.74.55.25.86.75.350~50099.18.799.810.1500~500010.89.79.99.510.511.5500010.310.411913.423.19.28.48.78.310.112.5(KPMG)4.4.4WTO2004161211SEB28WTO4.4.54.4.5.1285.61194.92008GDP65%2008318GDPGDP134.4.5.27.10083157.097.0882200831514.4%3%MBA184.5.5.33%3.4.64-4(2000-2007)Figure4-4IndexofShanghaiStockExchangeMarket(2000-2007)05000010000015000020000025000030000000010203040506074006008001000120014001600()()22000-4-5(2000-2007)