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Why don’t MSMEs prioritize branding?

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Slangbusters Studio
Why don’t MSMEs prioritize branding?

MSME is an abbreviation for businesses that fall under Micro, Small and Medium Enterprises category.

There are businesses that get a big kickstart and still do not believe in the power of branding whereas there are small businesses that prioritize branding from the get-go.

In small businesses, the owner becomes the brand manager too, making all the crucial decisions.

As much as research proves that there is little or no consideration given to brand management in small businesses, it is also proven how it becomes even more important for MSMEs because of its potential.

At the core, most of the large corporations are built on formal structures with adequate resources, efficiency, and expertise with a long term approach to planning business functions whereas MSMEs are built in a varied manner based on informal structures, short term planning, and limited financial resources.

They Jugaad their way into existence with creative solutions to make for the lack that large businesses have.

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