BrandScent: Crafting an Olfactory Identity and a Lifestyle Venture
Meena Chavan
Product #:W46151
Supplier:Ivey
Discipline:Entrepreneurship, International Business
Setting:Australia, Australia, 2023
Subjects:
Geography:
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Learning Objectives
- Understand the concept of lifestyle entrepreneurship and evaluate the trade-offs between growth ambitions and personal or lifestyle goals in a new venture. Recognize how entrepreneurs may define success in non-financial terms and the implications this has for strategic decisions (such as scaling up or not).
- Understand the trade-offs faced by founders when choosing between running a lifestyle business and pursuing international expansion. Analyze how entrepreneurs balance personal and lifestyle goals with strategic growth ambitions in international markets.
- Evaluate how engaging multiple senses (especially smell) differentiates brands, drawing on experiential marketing theory.
- Assess how small ventures can approach internationalization, including choice of markets, entry modes, and partnerships while managing risks and preserving their values.
- Analyze how experiential marketing and sensory branding contribute to brand differentiation and customer experience. The case illustrates theories of experiential marketing, allowing students to see how engaging customers’ senses (especially smell) can create memorable brand impressions and competitive advantage.
- Apply strategic analysis tools (such as SWOT) in an entrepreneurial context to assess a venture’s internal capabilities and external environment, and use those insights to inform strategic recommendations.
- Evaluate expansion strategies for a small business, including international market entry modes and partnerships. Recommend whether BrandScent should expand, and if so, propose how to do it (which markets to target first and what entry mode to use) while addressing potential risks. Formulate an internationalization strategy that leverages the firm’s strengths and mitigates its limitations.