what are-the-differences-in-postioning-and-branding-with-a-small-business
TRANSCRIPT
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Positioning and Branding a
Small Business
- Arushi Agrawal IIT Kanpur
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ACHALLENGE
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Limited resources and budget
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WHAT DO THEY
NEED?
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FOCUS
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CONSISTENCY
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CREATIVITY
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SOME QUIDELINES FOR SMALL BUSINESSES:
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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
Must rely on only one or two brands and key associations as points of difference for those brands.
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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 packaging3.Proper names
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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
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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 or credibility.
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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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These slides were created by
Arushi Agrawal, IIT Kanpur, during a Marketing internship by Prof. Sameer Mathur, IIM Lucknow
(See www.IIMInternship.com )