9. Creatively conduct low-cost marketing
research
Set up course projects at local colleges and
universities to access the expertise of both
students and professors
10. 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.
11. 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
12. 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
13. 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.
14.
15. RECAP
• Limitations of small business
• Need for finding new ways
• Some specific branding guidelines
• Careful implementation of marketing programs
16.
17. These slides were created by
Arushi Agrawal, IIT Kanpur,
during a Marketing internship by
Prof. Sameer Mathur, IIM Lucknow
(See www.IIMInternship.com )