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 ?
Priyanka IIT Kanpur
How is it Different ?
Building brands for a small business is a
They have limited sources
and budgets
What do they need ?
Focus
Consistency
What else ?
Creativity
What is Creativity ?
Finding new ways to market new ideas about products to consumers
Some specific Branding Guidelines for them...
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
Volcom adopted a “Youth Against Establishment” credo that resulted in steady sales of its music, athletic apparel, and jewellery in the U.S.
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
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
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
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