Abstract:
Brands play an integral role in differentiating one company’s product or service from that of another. Brands are normally associated with big business however, brands are also critically important in small to medium enterprises (SME’s). SME’s play an important role in stimulating economic growth, job creation, poverty alleviation and the general improvement of living standards. The objective of this report was to gain a better understanding of what role branding plays during a SME’s start-up phase. The researcher’s objective was to answer four research questions by conducting in-depth face-to-face interviews with ten entrepreneurs. Research findings pointed out the impact and benefits of using network marketing. Respondents indicated that networking was the most prominent and effective means to create brand awareness, especially during the SME’s start-up phase. Word of mouth was also found to be an important component in the creation and establishment of a SME’s brand. Financing was shown to be a key prohibitor to brand establishment, respondents were unclear on the cost to benefit ration of investing in their brand. Lastly, results reflected the key role played by the entrepreneur in establishing the SME brand.
