近幾年企業跨國併購活動頻繁，尤其亞洲企業併購歐美知名品牌形成一種趨勢。亞洲各國政府有感品牌對於消費市場的重要性，因此建置併購外國企業的鼓勵政策，藉此汲取跨國營運與品牌經營經驗。例如：自1997年起中國政府鼓勵企業「走出去」，透過海外直接投資活動形成跨國企業，2004年之後對知名品牌企業進行併購引起全球關注。而我國政府於2003年積極輔導「品牌台灣發展計畫」，希冀企業能著眼於「品牌」的培養，另外為加速台灣跨國企業品牌能在全球舞台嶄露頭角，外貿發展協會在2005年正式推動「併購國外品牌與通路計畫」，透過政府單位與併購專業機構等管道，著眼於品牌與通路資產尋找適合的對象，協助我國廠商拓展國際市場以進行跨國營運、提升企業品牌權益，進而打響台灣的國家品牌形象。 本研究即以亞洲企業併購歐美品牌為研究主體，探討企業併購動機與企業內部品牌資產（專利、商標、通路）的關連性，以及併購後對外品牌策略的使用，結合內部資產與外部品牌策略的使用，說明主併企業的品牌權益能否借他人力量提升並立足於跨國市場上。 本研究以個案分析的方式，以「聯想併購IBM PC部門」與「成霖全球品牌併購」進行探討，得出亞洲企業併購歐美知名品牌後，保留被併標的的品牌並採取聯合品牌、彈性使用品牌策略，來提升主併企業的品牌權益或維持各區域品牌的營運。另得出以下建議，希冀能對我國企業採取併購活動時有所助益： 1.提升併購品牌的策略層次： 併購動機的層次會影響併購後企業營運方式及品牌策略，如聯想藉由併購及聯合品牌策略提升其內部技術與亞洲品牌的層次，成霖的併購與品牌策略展現其現階段以佈局國際市場的營運、增加營收為主，對自身品牌權益的提升較少。 2.併購標的應具備多項品牌資產： 品牌資產可使企業掌握市場的競爭優勢，除掌握通路進入市場外，亦應觀察其專利、商標等權利運用與移轉，牽制競爭對手與影響市場結構，利於主併企業品牌權益的提升。 3.注重併購品牌的整合： 要使被併品牌發揮市場效益，併購後資產的整合與運用更須注意，對外需熟知當地政府對企業之獎懲法規、勞工保護規範以及當地顧客市場的需求，對內則瞭解被併企業營運方式與員工需求以此進行融合管理，讓內部員工與當地市場能接受主併企業，由內而外槓桿併購品牌的實質效益。 / The mergers between Asian enterprises and famous American and European brands become a trend in the frequent international mergers and acquisitions in recent years. Asian governments become more aware of the importance of brand in the markets and thus formulate policies to encourage cross-border M&A, through which enterprises can learn international corporation and brand management. For example, China government had urged enterprises become international corporation through foreign direct investments since 1997. The mergers of famous companies and brands after 2004 become a global concern. Taiwan government enthusiastically developed “Branding Taiwan” to encourage enterprises to focus on brand development. Taiwan External Trade Development Council started “M&A Foreign Brand and Channel” in 2005 to promote Taiwan brand to global business. Government units and M&A professional organizations try to help Taiwan firms find suitable merging targets of good brand and channel to get more brand equity and experience concerning international business management, thus to promote Taiwan brands. This thesis aims to focus on Asian enterprises merging famous American and European brands to explore the correlation between M&A motives and internal brand assets of enterprises and to analyze the external brand strategies in post merger. The discussion will involve the possibility whether the acquiring firm can enhance their brand equity through M&A. This thesis will take “Lenovo Acquired IBM PCD” and “Globe Union M&A Global Brands” for case studies. Asian firms retain acquired brand and take co-brand strategy to raise their corporate brand equity, or take flexible brand strategy to operate regional brand enterprise individually. Further, it provides three suggestions to Taiwan enterprises when they decide to proceed with a merger. 1.Enhancing Motives to Strategic Level: acquiring firms would be led to different business operation level by what goal they set. 2.Acquired targets should possess more brand assets: the more brand assets acquiring firm can manipulate, the much competency they will have. 3.Emphasizing on Brand Integration after Merger: In order to obtain more revenues from acquired brands, acquiring firms have to pay more attention to all factors through the integration, including local industrial policies and labor protection regulations. They should also know the corporate culture and employees’ expectations of the acquired companies to better management and lessen the resistance from the employees and local market.

自1955年Ray Kroc創立麥當勞以來，以經營家庭市場為麥當勞的基礎，並且藉由與家庭顧客的互動培養長期牢固的忠誠度，台灣麥當勞自1984年成立以來，深耕台灣家庭市場，創下許多餐飲業的首創，不但打下市佔率，也打下消費者心佔率，成為父母及小孩的第一選擇。 由於麥當勞全球迅速擴張導致單店營業獲利下降，因此麥當勞重新思考品牌重整，將品牌溝通重心轉向年輕族群，全球品牌再造計畫”我就喜歡”於2003年底全球同步展開，顧客群重心的調整加上大環境反速食的浪潮，考驗對家庭市場的經營方式及應變能力。 本研究以實務個案分析，採用質化研究，針對台灣麥當勞高階主管經營家庭市場經驗訪談，輔以理論之架構，予以逐項分析比較及歸納。家庭市場的交換價值影響母品牌的資產，母品牌的經營策略改變也影響家庭市場長久建立的資產，其研究目的有二：第一、期了解麥當勞運用家庭市場行銷方案（Family Program)，建立家庭市場地位並且將資產累積回饋母品牌。第二、研究麥當勞品牌策略轉向影響到經營多年的家庭市場，麥當勞該採取的因應策略。 麥當勞在強化家庭市場行銷活動4C的同時，也增加了母品牌強化4C的機會，轉嫁成為母品牌的資產；當策略焦點轉移，資源重新配置，品牌的4C將不完全是由家庭市場行銷活動4C來建立或維繫，也影響到家庭市場行銷活動傳遞產品及服務本身的4C，因此回頭檢視家庭市場行銷活動的4C時，發現家庭市場行銷活動4C出現一些缺口，而這些缺口，反而又回頭影響了母品牌的4C。 因此，在思考品牌的4C時必須採取根本解，而非症狀解，此外，當核心能力作焦點轉移時，需要重新思考或調整原有核心能力的續航力及基盤事業，最後，如何運用競爭優勢與社會利益共享，創造社會影響力，發揮最大共存效益。 / Since Ray Kroc built up McDonald’s in 1955, Family has been the core foundation of McDonald’s business. McDonald’s has established true loyalty with family customers by engaging and interacting with them at every touch point. McDonald’s Taiwan was established in 1984. Since then, it has been cultivating the family market to become the first choice of parents and kids. It occupies not only the top position of market share but also mindshare. Because of the rapid expansion of McDonald’s business worldwide, McDonald’s is confronting the first ever decrease of unit store profit. In reaction to this downturn, McDonald’s decided to slow expansion speed and take a step back to re-think and re-position its’ brand. McDonald’s launched the “i’m lovin’ it” brand campaign globally. Their brand communication focus shifted to Young Adults. Because of this shift and the growing anti-fast food trend, McDonald’s family marketing has faced its biggest challenge ever. This case study adopted qualitative research, interviewed top management in McDonald’s Taiwan and supported by theoretical structure to analyze this case. The exchanging value of family market influenced the equity of mother brand. Changing the position of the mother brand has also affected the value delivery of family market. The main objectives of this thesis are firstly to understand how McDonald’s has utilized family marketing to build equity of family market and be beneficial to the mother brand. Secondly, how the change of mother brand positioning affected the equity of family marketing building. Finally, what strategies McDonald’s should use to tackle these critical issues. While McDonald’s enhanced the 4C value of family marketing, it also added the 4C value of mother brand. 4C value of family market would transfer and become the equity of mother brand. However, when the brand focus changed, corporate had to re-allocate resources. At this point, the 4C value of mother brand was not totally constituted by 4C value of family market. That is to say, family marketing shared less resources and delivered less 4C value to family market. The incomplete 4C value of family marketing will go back to affect the 4C value of mother brand in the end. To manage a brand, marketers should resolve the root causes instead of just alleviating the symptoms. To deal with root causes, can corporate leave the side effects away. Besides, when corporate shifts the core competence to another area, they should re-consider resource allocation and migrate the core competence to better fit the new challenges. It is to secure the foundation of the business and sustainability of the corporation. Last but not the least, to incorporate social possibilities in corporate strategies will create the competitive advantage and have a positive impact on our society. Holding a shared vision with the society, working as a team with other partners, and elaborating the best synergy of human kind - that is how corporate social responsibilities will work in the future.