Positioning and branding a small business

By :---Priyanka Goyal mnnit allahabad

Its different from positioning and branding a big business.

But how

Its full of

challenge

because of

Limited budget

And limited resources.

But still

it is

Vitamin water is a classic example. In 1996 ,J.Darius bickoff launched an electrolyte enhanced line of bottled water called smart water and then vitamin water .clever marketing include endorsement with rapper 50 cent ,singer Kelly Clarkson, actress Jennifer Aniston and football star tom brandy.

So what does these small business need to flourish .

And

Creativity

is also

paramount

There are some guidelines to brand small businesses.

Creatively conduct low cost market research that help businesses connect with customers and and study competitors. one way of doing this is by setting up course project at college.

Focus on building one or two strong brands based on one or two key association. Create Viral worthy content, stories that people want to share. Tell a story where your product features but is not too obvious. A joke will do. for example volcom has adopted a “ youth against establishment” credo that has resulted in steady sale of its music ,athletic apparel and jewelry .

Employ a well integrated set of brand elements

Its objective :1)Enhance brand awareness.2) Facilitate the information of strong ,favorable and unique brand association.

Brand elements include:---

1) Brand name 2) URLs…3) Logo and symbol 4) Character5) Jingles6) Packaging 7) slogans

Create buzz and a loyal brand community . Example is given in the next slide.

Mozilla firefox is able to compete with Microsoft internet explorer in part because of its dedicated volunteer group of 10,000 programmer who work on it open source coding. Twelve fans of the brand felt so strongly about it that they used two- by -fours and a rope to hollow out a 30,000 square foot impression of the brand’s logo in an oat field outside salem.

Leverage as many as secondary association as possible . It can be any person , place or thing.

For example :--- cogent maker of software that

can identify people through fingerprint ,draw

12 % of its revenue and much of its brand equity

from the fact that the DEPARTMENT OF

HOMELAND SECURITY uses it product to police

the U.S border.

But……........

Small business should remember that they do not have the luxury to make mistake

Thank you

Created by PRIYANKA GOYAL ,MNNIT ALLAHABAD , during an internship by prof SAMEER MATHUR ,IIM LUCKNOW .