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Branding and Marketing - Part IIBY: Raja Vikram | Category: Sales-Marketing | Submitted: 2010-09-29 17:25:43
A brand gives us the idea of its image, name and the level of awareness in the market. Hence what does the brand do to get this is the question comes to our mind. If a product is good enough we check different aspects of it. For Ex: Pricing, features like technical if it has, and lifetime of it. But most of us think that whether the pricing and product features does really matches or there is a good value for the product with the price that I am buying. Hence this type of questions comes to our mind. But, why not these things happen with Branding products, the answer says because of its features and the way of its marketing. Hence the brand marketing is the key pushups for a product/company to be in market by beating competition.
The brand works on the customer's benefits and profits with it. If the customer is taking the branded product then what is the benefits it has works well for the company. The branded companies work with updates for the better customer experience with the services and products from their end. The companies look at their customer's tastes, market situation such as competitor's strategies, pricing, and consumer behavior for modification in their branding strategies so as to reach customers better than their competitors. For Ex: HUL always works on new products so as to beat the competition, as they first came up with fair and lovely menz active to beat Emami fair and handsome then again they came up with fair and lovely max freshness so as to be leader in the market within this segment. Hence this example states us their way of market updates and process so as to deliver branded products for the customer.
When it comes for the pricing it completely depends upon how the customer takes it. The company time to time checks with their pricing and quality to meet side by side or in parallel. For Ex: Most of the customers feel that Godrej Furniture is too highly priced as compare to others but the quality is good. Instead of it there is a good sale for the furniture in the market. Hence this is because of brand of "Godrej" it has built since 110 years in the market. Hence, there comes a perception of the customer that the pricing and quality of the product are in parallel. Then the other thing for the company is to look at the differentiation of it from others products. For Ex: Godrej Locks are good in the market than competitors because of its brand name as well as the quality which others are not in line. There should be clarity from the company that the messages that are going out through promotions are good enough and there are no other disturbed messages from their end.
The companies work on the customer's choice for the brand they go on depth marketing research to understand what customer feels about the brand and its awareness. Some good companies go through third parties and with the channel partners for the research. If the companies have to launch a new product also they go for marketing research to find out their brand image and whether the new product will work under its brand name or not. For ex: Microsoft has given the responsibility of research for their new smart phone product to the third party IMRB so as to find out the key areas of it . Hence in these ways they find out the brand image in the market. The success and the failures of the brand always depend upon the way of their support to the customer while they are in pain. Most of the branded technical companies work in a better way when their customers are in pain which in turn gives them an edge at the customer place for their branding and as well as for customer satisfaction levels.
Hence in these ways the companies do marketing to build up their brand image in the market. They continuously check with different updates so as to be a brand leader in the market.
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Reference: Philip Kotler
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