Monday, June 15, 2009

Branding a Produt

Marketing is a set of activities with the overall goal of creating and nurturing customer relationships. As such it involves decisions in four major areas :

1. The product/service -- what will best meet the needs of my customers? What are my customers really purchasing?

2. Distribution -- how can I make it easy for my customers to purchase the product? Do I need the help of other firms for location, service, customization, systems integration, etc?

3. Promotion and communication -- how can I let my customers and prospect know about the value of the product/service? How can I create an information path for them to communicate with me?

4. Price -- what price is appropriate for the product -- competitive in the market, reflective of the quality and perception of the product, acceptable to the customer and suitable for my business needs?

Branding is a subset primarily of promotion. The concept is to first, understand what the essential, core value is that your customers hold for your product category. You then want to create/modify your product to best deliver on that core value and then promote it such that the consumer intimately associates -- believes -- that your product best delivers the value.

9 comments:

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Sudipta Das said...

yes for any business branding of your product is very important, with out branding it you won't get regular customer

thank you
Sudipta Das
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Messi said...

There are so many tools for branding a product. It is necessary for any kind of product. It is really helpful for the business.

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Personal Injury Lawyer said...

Nice article I am very pleased with the thoughts and did not like to add anything to it.
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Resume Search said...

Branding is the most important thing to develop a business: thanks for sharing some good points:

stevehith said...

For a success in an online business branding is essential. SEO services help us in branding products and services.

jaxonmarkell said...

Certainly branding a product is a challenging and essential task.Your views are good. Kindly guide with some tips.