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Small Businesses: Strategies and Initiatives for Positioning and Branding
Abstract
Positioning and branding in the minds of the target market are imperative for any company. Small businesses find it challenging because of limited resources and budgets. Small businesses adopt a number of innovative ideas and initiatives to develop and build their brands. They focus on finding a compelling product and improving its performance, establishing brands with limited associations, and providing product and service trials for customers. They use the internet optimally to do digital communication and depend on word of mouth and buzz marketing to do cost-effective communications. They develop an integrated set of brand elements and leverage secondary brand associations. They utilize their scarce resources optimally, conduct cost-effective marketing research to analyze their customers, and focus on concentrated marketing. All these strategies and initiatives help small businesses to position and establish their brands in the minds of the target market.
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