What are-the-differences-in-postioning-and-branding-with-a-small-business
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Transcript of What are-the-differences-in-postioning-and-branding-with-a-small-business
Positioning and Branding a
Small Business
- Arushi Agrawal IIT Kanpur
ACHALLENGE
Limited resources and budget
WHAT DO THEY
NEED?
FOCUS
CONSISTENCY
CREATIVITY
SOME QUIDELINES FOR SMALL BUSINESSES:
Creatively conduct low-cost marketing research
Set up course projects at local colleges and universities to access the expertise of both students and professors
Focus on holding one or two strong brands based on key associations
Must rely on only one or two brands and key associations as points of difference for those brands.
Employ a well integrated set of brand elements
Three main sets of brand equity drivers :-
1.Memorable and meaningful brand elements
2.Innovative packaging3.Proper names
Create BUZZ and a vibrant brand community
Small business often must rely on word of mouth to establish their positioning, public relations and social marketing can be inexpensive alternatives
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 or credibility.
Unlike major brands that often have more resources at their disposal, small business do not have the luxury to make mistakes
RECAP
• Limitations of small business• Need for finding new ways• Some specific branding guidelines• Careful implementation of marketing programs
These slides were created by
Arushi Agrawal, IIT Kanpur, during a Marketing internship by Prof. Sameer Mathur, IIM Lucknow
(See www.IIMInternship.com )