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 )