Why is Branding so Important in Marketing - Assignment Example

Once an exclusive product establishes its identity as a market leader, there is no looking back for the company, provided the product has scope in the future as a necessity. Moving a cult brand to the mainstream involves identifying the general masses that are vulnerable or desirous of a particular product that has an established appeal factor. The target consumer base is then broadened with aid of the firm believers in the brand (www.swlearning.com). Promotional endeavors in form of advertisements and electronic media are then used to attract the consumer and invest in the product.

Marketing based on the sex of the consumer is an effective mode and makes sense as certain products have an exclusive appeal to either sex. Cosmetics, baby care products, and jewelry have intense appeal for women and marketing should be targeted according to the media they are likely to be exposed to. Similarly, certain products like bikes, electronic gadgets, arms, etc. have more appeal in men, and marketing is exclusively targeted at them. Marketing on the basis of sex, therefore, holds definite merit.  (Use Toyota as an example)

Innovation involves identifying the customer’s needs according to the latest trends in society, the spending power of the consumer, and the economic situation within a country. Toyota is an established name in automobiles and it targets its consumers in different countries according to the type of vehicle that can meet their requirements.