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