What are the differences in positioning and branding with a small business
What are the differences in positioning and branding with a small business ?
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Transcript of What are the differences in positioning and branding with a small business ?
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Priyanka IIT Kanpur
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How is it Different ?
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Building brands for a small business is a
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They have limited sources
and budgets
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What do they need ?
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Focus
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Consistency
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What else ?
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Creativity
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What is Creativity ?
Finding new ways to market new ideas about products to consumers
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Some specific Branding Guidelines for them...
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Creatively conduct low-cost marketing research
Set up course projects at local colleges and universities to access the expertise of both students and professors
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Focus on holding one or two strong brands based on key associations
Volcom adopted a “Youth Against Establishment” credo that resulted in steady sales of its music, athletic apparel, and jewellery in the U.S.
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Employ a well integrated set of brand elements
Three main sets of brand equity drivers :-
1.Memorable and meaningful brand elements 2.Innovative packaging 3.Proper names
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Create BUZZ and a vibrant brand community
Because small business often must rely on word of mouth to establish their positioning, public relations and social marketing can be inexpensive alternatives
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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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Unlike major brands that often have more resources at their disposal, small business do not have the luxury to make mistakes
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Recap
• Limitations of small business • Need for finding new ways • Some specific branding guidelines • Careful implementation of marketing programs
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