differences in positioning and branding with a small business
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Transcript of differences in positioning and branding with a small business
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What are the differences in positioning and branding with a small business ?
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Why challenging ?
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Small firms have limited resources and budget
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but,
Don’t worry
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Numerous success stories of entrepreneurs who reached from scratch to powerhouse brands are present.
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must think about
Creativity
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Some specific guidelines
Creatively conduct low cost marketing research
Set up course projects at local colleges and universities to access the expertise of both students and teachers.
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Some specific guidelines
Focus on building one or two strong brands based on one or two key associations.
Must rely on only one or two brands and key associations as PODs for those brands.These associations must be consistently reinforced across the marketing program and over time.
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Some specific guidelines
Employ a well integrated set of brand elements
Three sets of brand equity drivers:
1.Memorable and meaningful brand elements
2.Innovative packaging3.Proper names
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Some specific guidelines
Create buzz and a loyal brand community
Must rely on word of mouth to establish their positioning, public relations, social networking,and low-cost promotions and sponsorship can be inexpensive alternatives.
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Some specific guidelines
Leverage as many secondary associations as possible
Secondary associations are often a cost-effective, shortcut means to build brand equity, especially those that help to signal quality.
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You don’t have Luxury to make mistakes unlike major brands which have more resources at their disposal.
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So,
What do you do
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Must design and implement marketing programs much more carefully.
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