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SAGE Books - Marketing for Entrepreneurs: Concepts and Applications for New Ventures
Source: sk.sagepub.com
Article summary:
1. Building and sustaining a powerful entrepreneurial brand is critical for a venture to survive, grow, and endure in a complex and competitive marketplace.
2. There are five stages of the branding process: conducting a brand analysis, determining brand positioning, selecting a brand name and identity, selecting a branding strategy, and constructing a brand communications strategy.
3. Entrepreneurial firms can consider several different branding strategies: corporate branding (the “branded house”), individual product/service branding (the “house of brands”), or a hybrid strategy (sub-branding).
Article analysis:
The article “Marketing for Entrepreneurs: Concepts and Applications for New Ventures” provides an overview of the importance of building and sustaining an entrepreneurial brand in order to succeed in today's competitive market. The article outlines the five stages of the branding process as well as three different branding strategies that entrepreneurs can consider when creating their own brands.
The article is generally reliable in its content; it provides clear explanations of each stage of the branding process as well as detailed descriptions of each type of branding strategy. The author also provides examples from real-world companies such as Virgin and Procter & Gamble to illustrate how these strategies have been successfully implemented by other businesses. Additionally, the author cites sources throughout the article to support his claims, which adds to its credibility.
However, there are some potential biases present in the article that should be noted. For example, while the author does mention potential drawbacks to certain types of branding strategies (such as putting all eggs in one basket with corporate or branded house strategies), he does not provide any counterarguments or explore any other potential risks associated with these strategies. Additionally, while he does provide examples from real-world companies such as Virgin and P&G to illustrate how these strategies have been successfully implemented by other businesses, he does not provide any evidence or data to back up his claims about their success rates or effectiveness.
In conclusion, while this article is generally reliable in its content and provides clear explanations of each stage of the branding process as well as detailed descriptions of each type of branding strategy available to entrepreneurs, there are some potential biases present that should be noted before taking any advice from this source.