in marketing, the brand name is a major selling tool and one of the most important components of the ‘total product personality’. the name of the product creates the right image and is a basis for the whole marketing and public relations strategy. at present, brand and package are the two attributes of a product. there is no hard and fast rule to the selection of a brand name. the term family brand refers to one brand name which a firm adopts for a variety of its products. brand mark is that part of the brand which appears in the form of a symbol, design, or distinctive colouring or lettering. brand image reflects the perceptions of outsiders, that is customers about the brand. it is a link between brand and the product.
it is the driver of brand equity. there is no hard and fast rule to the selection of a brand name. brand loyalty is usually rated as the most important indicator of brand equity. many a time in marketing, there comes a stage in the life of a brand when it needs to be re-worked and re-launched to take it to a different level. 1. a brand label is simply popularizing the brand name of the product. thus packaging is one among the activities of designing and producing the container or wrapper for a product. ordinary packing is in the form of throw-away containers. is a kind of package which holds the required volume of product for the household consumption.
unless the public is aware of your product and the features it offers, you can’t reasonably expect to generate much in the way of sales. your efforts at product alignment and brand positioning can provide a substantial boost to name recognition and overall sales. this is your primary competition, the product or group of products that are in position as the market leader. the first-to-market firms with a new product have a jump on the competition and a solid prospect of becoming a market leader. one strategy for positioning your product in the market is to challenge the market leader, as described in an aytm article on brand positioning.
as product strategies go, market followers more or less ride the coattails of the already well-established market products. rather than innovating new drug products or spending exorbitantly on research, development and advertising, generic products simply occupy shelf space next to the market leaders, offering equivalent performance at a lower price. another strategy for differentiating your product is to target a specialized audience. the niche product strategy is especially suitable for small businesses with limited resources to launch a serious challenge against an established and dominant market leader. instead, the niche player aims to reach a small but significant fraction of the market interested in specialized product attributes.
branding strategy: this is a powerful strategy which is directly related to product strategy. a brand is used to identify an offering and set it apart from competing offerings. brand plays an important role in marketing strategies. social media can help you increase market recognition. join online discussions about topics relevant to your market product identification is a broad category of labeling that includes product traceability, brand protection, and various, product identification methods, product identification methods, product identification examples, product related strategies ppt, product identification in entrepreneurship.
who are you selling to? define your target customer or market. identify whom you are selling to, and what that market product strategy defines what your product should achieve and how utilise the product strategy in strategic planning and marketing to identify the direction what links here related changes upload file special pages permanent link just like with product roadmaps, goals should be specific, measurable, attainable, relevant, and time-bound. initiatives., explain in detail product related strategies, product identification ppt, product strategy and operations, types of product strategy
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