This document discusses marketing theory and challenges for small businesses. It emphasizes the importance of clearly understanding customer needs and defining a clear brand essence that is timeless. Case studies show that differentiation does not need to be expensive or time-consuming, and can involve small changes. Effective branding comes from focusing expertise on premium products and considering multiple brands to reach different customer segments. The key takeaway is to clearly identify a brand essence that captures why customers choose a business.

1. Marketing By Jake Pearce Why Common Sense Isn’t Common Theory and Practice of Branding

4. Created Needs

8. Get it right! Essence & Proposition

13. Coke’s essence is “refreshment”

20. I’ll droop it in