Sep 22, 2014
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A Few Differences to Acknowledge
Although they may be similar in their overall goals, small and large brands take very different paths in order to make a profit. There is a place for both small and large brands, but it must first be realized that inherent differences are present.
Rules
It’s safe to say that branding will not benefit a small business nearly as much as a larger, well known business. Larger businesses are trying to outdo their competitors by spending more money and to be found more memorable to consumers. Smaller brands however, have to differentiate themselves by offering a unique product or service that will help them to stand out.
Audience
Large brands speak to the whole world. They often have to take into account numerous cultures, markets, and lifestyles. Smaller brands however often speak directly to their local customers. They don’t have to worry about spending as much money on research, because they interact with them almost every day.
Budget
Fairly obvious, but true. Although larger brands have a deeper pocket when it comes to an ad budget, they are again having to cover a larger area. Smaller brands have a small budget, but if they are smart in their strategy and growth, they too have the ability to make a large impact. A good example of building a small brand is the company of J-Dawgs, which sells hot dogs. The owner started out selling them out of a shack located by a university campus. He let the food just speak for itself at the beginning, word of mouth mostly. Eventually the company has slowly grown to take in more locations and to feed more people. The power of a quality product in this case allowed for a small marketing budget.
There are many more differences to acknowledge between small and large brands, but we’ll just start at these few. If you are interested in reading more, you can go to either of these two sites for more information:
–http://www.retireat21.com/blog/four-marketing-differences-between-small-and-big-businesses