Introduction

Branding a product is
the strategy in which a product is made to effectively interact with its
consumers and prospects through logo, design and messaging. It helps to
maintain a well-connected connection between the client and the products
throughout its lifecycle. Good examples of effectively branded products include
are Coca-Cola. Due to its ability to interact with clients, the production company
from manufacturing one soda to different products accompanied by creative
animations, advertisement, and events.  With
this foundation, this paper will explore key components of branding and the
core reason why branding is important to both companies and their consumers.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

A.    Key
Components of Branding a Product

The Target Audience

The target audience or
the market is the person who is most likely to purchase the product. Therefore,
the company is required to know the team of executives, purchasing manager or
departmental manager who is responsible for driving the symbol and connecting
the value of the product to prospective consumers. Before a product is
designed, the demands, the values and the needs of the target audience must be
known so as to create customized products that exactly meet their liking.

 

The Promise

This component carries
with it the message that speaks to the target consumers. The message must be
clear and concise as it tells the potential clients what to expect after buying
the product. When creating the message, the company must consider what
partners, employees and customers anticipate in every transaction they have
with the company. As a result, if a business promised quality products to its
clients, it must stick to that in order to keep the promise and maintain the
client base.

The Brand Personality

These are the features
that the brand will be recognized with both within and outside the production
environment. The marketing team and the team of executives must come up with
personality traits that clients, employees or partners must ascribe to while
describing the product and your organization. For example, there is a common
statement that says “Fanta makes senses”. Even without a trial, any
consumer will feel that Fanta a product of Coca-Cola is the best choice for him
or her. In this case, a company must create different traits that both the
consumers and firms can adopt in describing the product. For example, people
are fond of saying “Chucks all way”. This is directly used in describing Converse All-Stars shoe brand.

Brand value and
perception

This value component
defines what guides the company’s decision-making process. The company strives
to achieve the core values in order to maintain a positive position that the advertisement
and commercial are giving the client base. Through surveys, companies can
easily know whether their embodied values are carried along by the brand or
not. This can be learned by taking simple reviews either online or offline to
understand how clients understand the brand, how they feel about the brand. Finally,
the company then evaluates whether what the intended to communicate to the
company is what they feel about the presented product. This information works
best in expressing whether the adopted product branding strategy is working or
need to be changed.

The Brand Position

Positioning a brand is describing
the exact position that the brand holds or intends to hold in the client’s
mind. The marketing department may define the target position, the available
competitors and the projected advantages of going for the brand over the
others. A positioning statement that touches on all the three issues helps in proofing
whether the brand delivers the promise. Successful brand positioning helps the
company in understanding its relative market share, its competitors and the
unique values that make clients go for it as opposed to other products.

B.     Importance
of Branding to both firms and consumers

According to (name,
year), the most powerful and well-performing brands do not originate from the
market, but from the experience that clients and partners have had after
interacting with the products. Therefore, product creativity, design,
performance, quality, and consistency are key drivers of the current consumer’s
need for brand appreciation and adaptation.  To the consumers, branding helps them in
differentiating their primary choice of product from the rest. In the modern
world, customers are overawed by tens of thousands of products presented in the
markets. For example, in the mobile phone market, there are numerous famous
brands such as Samsung, Sony, Techno, and Apple. As a result, the price, the
performance, the stylishness and features of the product of choice save them
the time of comparing different products. For instance, Apple iPhones have for
long remained the talk of the mobile manufacturing industry due to its
features, performance, and status.

While interacting with
a given brand, customers need to feel special. Their emotional attachment to
the brand is everything that maintains the company. Consequently, the company
must ensure that clients feel part of the development and success of the
company. For example, most of Google products describe their customers as
“friends”. In so doing, clients feel as if they hold a very important part of
the company and therefore continue supporting the brand. Support from customers
act as the driving force for major corporate branding as a slight backlash of
clients may mean a fall of the entire production line.

On the other hand, product
branding creates a reputation for the company that directly or indirectly develops
its success. For example, there is a slogan that states “The care in front
of you is always a Toyota”. Looking at this statement, Toyota has managed
to apply both ethical and intercultural business practices in reflecting its
brands to different parts of the world. Due to its brand, Toyota has
continuously developed into an international company with officers in every nation
around the world. Thus, product branding builds the reputation of
organizational products and services to both current and potential clients.

Finally, branding creates
promises that bond clients to the products. If the brand meets their immediate needs
and demands, they reciprocate by offering their loyalty to the product despite
price changes or economic downturn. For example, the ability of Apply brands to
service their consumers’ needs and preferences has made it possible for Apple
iPhone X and 7 with premium prices to have the highest sales. Therefore, for
companies to maintain their clients’ loyalty, they must focus on innovative
branding that matches the quality and performance of the products.

x

Hi!
I'm Erica!

Would you like to get a custom essay? How about receiving a customized one?

Check it out