....Yes..let's
Criticize .. !!!
Prologue:
While All Professional say they are strongly aware of Brand positioning only
one fourth of them "can clearly articulate company's brand position to... clients, customers ,prospective clients or Business Partners” as a New professional I felt I need to Recall the Impotence of Brand value to over come some Risk barriers in our Target segment .
"Strong brands never happen by accident. Yet many companies do not take a disciplined approach to brand planning and execution"
What is Brand Equity ?
The financial value of a company's brand or it's level of popularity
when certain outcomes result from the marketing of a product or service because of its brand name that would not occur if the same product or service did not have that name.
What is Brand value ?
People are willing to pay more for a brand than a product. Brand value is the extra money a company can make from its products solely because of its brand name.
Ethical Branding......!!!
Having a Ethical method / Behavior for 4p's decision making is absolutely
Ethical behavior is characterized by honesty, fairness and equity in interpersonal, professional and academic relationships and in research and scholarly activities. Ethical behavior respects the dignity, diversity and rights of individuals and groups of people.
Product / Brand Failure:
Defining product and brand failures:-
A product is a failure when its presence in the market leads to:
- The withdrawal of the product from the market for any reason
- The inability of a product to realize the required market share to sustain its presence in the market;
- The inability of a product to achieve the anticipated life cycle as defined by the organization due to any reason; or,
- The ultimate failure of a product to achieve profitability.
Common reasons for product failures:
In addition to a faulty concept or product design, some of the most common reasons for product failures typically fall into one or more of these categories:
High level executive push of an idea that does not fit the targeted
market.
Overestimated market size.
Incorrectly positioned product.
Ineffective promotion, including packaging message, which may have used misleading or confusing marketing message about the product, its features, or its use.
Not understanding the target market segment and the branding process that would provide the most value for that segment.
Incorrectly priced—too high and too low.
Excessive research and/or product development costs.
Underestimating or not correctly understanding competitive activity or retaliatory response.
Poor timing of distribution.
Misleading market research that did not accurately reflect the actual consumer’s behavior for the targeted segment.
Conducted marketing research and ignored those findings.
Key channel partners were not involved, informed, or both.
Lower than anticipated margins.
“Once you Withdraw your product from Market it considered as a Product Failure which is Directly Proportional to Brand Failure”
Prevention:
Build the Strong Brand ..!!
Work for Long term returns
Work ethically
“U WORK FOR THE BRAND 'n' BRAND WORK FOR U”
