Adoption of Low-Cost Branding and Marketing Strategies for Entrepreneurs

Rajbir Saha

Abstract


The National Association of Software and Services Companies (NASSCOM) predicts that India will have about 10,000 start-ups by 2020. This is a large figure in terms of the number of entrepreneurs may pose a challenge to the young innovators to flourish in today’s cutthroat competition. These young entrepreneurs must target growth not only within India, but also abroad. “Branding” will be an important aspect for these companies to consider as they advance to large, recognized, and trusted companies. There are many approaches for launching and supporting brand campaigns and promotions that start-ups can adopt and that are well known in the market and among the various stakeholders involved (Upadhyay, 2018). Some of the strategies that can be adopted are co-sponsoring an event with relevant partners, trying to reach out to target audience by offering materials like brochures on products and services so that the target audience get an idea of these products and services thereby having an opportunity to provide feedback through different platforms. Under financial constraints, these young and future companies may also adopt low-cost brand opportunities. Promotion channels should be decided in such a way as to reach as many target customers as possible.

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References


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