Cost-effective Marketing Strategies for startups

Alok SudVice President Marketing Services

Reliance Industries Limited (Petroleum Business)

In this session …

• Why does anyone start any business • Different positioning strategies for business• What is Unique Selling Proposition• Benefits of a USP• How to be cost effective• Advantages of startups

Businesses start …

• For an economic reason• After spotting an unfulfilled need• For a target market• With a high energy level• With a high customer focus• With a clear understanding that the

opportunity is not going to last forever

Every new business aspires to be ..

• Either a – Least Cost Producer – Highest Quality Producer or – Specialized Producer

• Each of these strategies requires a move towards creating a Differentiated product or service

Differentiation

Volume Market (Excavators)

Specialized (Machinery Makers)

Stalemated (Steel Makers)

Fragmented (Restaurants)

Few Many

Size

of T

he A

dvan

tage

Smal

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Number of Differentiation Attributes

Act of designing a set of meaningful differences to distinguish your offering from competition

Unique Selling Proposition• A claim of Differentiation repeatedly Communicated,

Delivered and Perceived by the customers • Go all out to own a word in the customer’s mind,

stand for something

Unique Selling Proposition …

Avoid Under Positioning : Vague Idea in Customer’s minds

(Crystal)Over Positioning : Too narrow an Idea in Customer’s

minds (Tiffany)Confused Positioning : Too many claims (NeXT)Doubtful Positioning : Incredible actions vis-à-vis

claims (Cimarron)

Unique Selling Proposition ….

• Repeatedly communicated the USP gets to be seen as a Brand Promise

• The whole organization should be structured to deliver on the Brand Promise

Why Brand Insistence

• He feels an Emotional Connect• He get Value for money• He see it as Convenient• He recalls it at once• He sees it as different in a way

that suits him

Some have managed it very well

Cost Effective strategies• Avoid ATL till you achieve critical mass• Focus on BTL with emphasis on “Bang for the Buck”• Invest in the Human Resource• Spend time in Research to identify a TA and create a USP• Stay focused on your TA always• Avoid temptation to be an Imitator • Develop a Brand Manual• Monitor your Brand• Innovate to Reduce expenses by at least 5% YOY

Steve Jobs on Innovation

“Innovation has nothing to do with how many R&D Dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D, It’s not about money. It’s about the people you have, how you are led and how much you get it”

Advantages of startups

• Drive & Motivation of the leader• Well-knit & Enthusiastic team• Fast Learners• No Hierarchy, More Commitment• Quicker Decision Making• Adaptable & Flexible• Insistence on ‘Bang for the Buck’

So go ahead and build powerful Brands & rule the Markets

Touch base at alok.sud@ril.com or 98717 49494

The brand names & logos used in this presentation are the properties of the respective companies and used only for illustrative purposes. No part of this presentation may be used for any commercial gain

Thank You !!!