Free

Markting 3000 - Essay Example

Comments (0) Cite this document
Summary
Some customers give more importance to the brand rather the product. Branding helps an entrepreneur to establish strong relationship with the customers. Brand images construct some symbols in the minds of…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93% of users find it useful
Markting 3000
Read TextPreview

Extract of sample "Markting 3000"

Branding and new product development Branding is the process of naming or giving trademark to a new product. Some s give more importance to the brand rather the product. Branding helps an entrepreneur to establish strong relationship with the customers. Brand images construct some symbols in the minds of the customers which help the movement of the product in the market. For example, Microsoft is an established brand so that people may not think twice before they take decisions about purchasing a Microsoft product. Even without testing or watching the demo, some people purchase these products because of their immense confidence and trust in the abilities of Microsoft which was developed because of their brand image. This paper analyses the different aspects of brand image on the development and implementation of a new product.
Branding should be unique and attractive in order to catch the attraction of the customers. Logos or trademarks are important in developing a brand. Logos must reflect the theme of the product we are going to develop. It should not be confusing to the customers. It is not possible to convince the customers by selling high quality products for cheaper rates alone. Low prices, superior quality, great advertising, stunning packaging etc are part of brand development. All these things develop a psychological attraction among customers towards the brand, not the product. Market is overcrowded with millions of products of same and different natures which made the customer’s task more difficult in selecting a suitable product for them. In such circumstances they will put their trust on brands rather than the products. New product developers must keep all the above points in their mind when they planning to develop a product.
New product development is a difficult and complex thing for entrepreneurs. The entrepreneur must research thoroughly in the market in order to realize the needs of the customers which were unmet by other suppliers in order to conceptualize the new product development process. In other words, realization of opportunity is the first step in the development of a new product. These opportunities must be analysed thoroughly in order to learn more about the possible success and failure factors of the new product which is going to be developed. If the entrepreneur was confident about the success of the product, then he can start the idea generation process. During this period, he must evaluate different ideas about the production, packaging delivery and marketing of the products which will help him to fix the most perfect idea for the production and marketing of the new product in his mind. Technology development is the last step before the production process of the new product.
Once all the above things were done, the entrepreneur must take trial run or beta testing of the product in order to study the production difficulties and the marketing prospects of the product. Based on the feedbacks received from the production unit and the marketing people, entrepreneur can decide about the official launch of the product in the market and also about the initial volume of the product needed to be produced. The launching of the new product must be done with the help of brand development activities like advertising, attractive packaging etc as mentioned before.
In short, brand development is an important factor in deciding the success and failures of a new product developed. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Markting 3000 Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Markting 3000 Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/miscellaneous/1557898-markting-3000
(Markting 3000 Essay Example | Topics and Well Written Essays - 500 Words)
Markting 3000 Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/miscellaneous/1557898-markting-3000.
“Markting 3000 Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1557898-markting-3000.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Markting 3000

Markting

...?Marketing Table of Contents Table of Contents 2 Question 3 Question 2: 6 Question 3: 8 Question 4: 10 Question 5: 11 Question 6: 13 Works Cited 14 Question 1: The Internet is changing the way some firms gather consumer information. See if you can find a company (provide source) that is using the Internet to gather information on customer needs. What evidence on their site suggests that they are using the information gathered to aid in developing new products? What are the benefits of gathering information on customer needs from the Web? What are the drawbacks? For what kinds of industries might this information be most useful or appropriate? Least useful or appropriate? Your response should be well thought out and insightful... Table of...
4 Pages(1000 words)Essay

Markting

...?Nokia: (Re)Connecting with People The mobile phone industry is significantly one of the most lucrative as far as technology-related marketing goes. The past couple decades have shown a tremendous influx of innovation as cellular phones became a staple for most individuals. In the advent of this communication device from the early years and forward is the emergence and endurance of Nokia as a brand. This Finnish company was smack in the middle of the advances early on as mobile communication has evolved ever so swiftly in a matter of years. The trend for such devices has become so in demand that companies are quick to develop products that will suit what the consumers are looking for in accordance with what is the latest... (Re)Connecting...
3 Pages(750 words)Essay

Markting

...?In the business world there are two types of organizations which are manufacturing and service companies. Determining the satisfaction on aproduct is easier due to the fact that the customer is evaluating a tangible product. Different customers can evaluate the same product due to the consistence associated with manufactured products. In the service industry the level of service that a customer may receive varies due to the intangible nature of the work. In order to evaluate the service industry this paper describes two instances in which I experienced good and bad service. A service that I utilize a lot during the last couple of years is the service of the local library. Every time I go to the library I have been always... the business...
2 Pages(500 words)Assignment

Markting 3000

...The product that I recently purchased is IPhone, which is manufactured and marketed by Apple Incorporation based in California, USA. The marketing distribution channels for the product are either you buy the set from AT & T, a mobile network based in USA or you buy it online. Therefore, the marketing distribution channels, in other words, are either from Manufacturer to agent (AT & T) and then to consumers. In the online distribution channels the parties involved are Manufacturer (Apple) and customers (those who buy the IPhone for personal use). The value chain arising from distributing the product through AT & T is the added features that an IPhone gets. For example, IPhone functions depend on the mobile network such as GSM... product that...
1 Pages(250 words)Essay

Markting 3000

...Consumer psychology and analysis of database s are important part of market strategy which helps one to know the changing preferences of the customers in the rapidly changing times. Analysis and identification of the changing trends of the customer requirements are important ingredients to gain leverage against their rivals. The market strategy should be totally focused on the needs and requirements of the people and make continuous efforts to update its products line with that of the changing public demands. Understanding of consumer psychology, therefore, plays a vital role in the development of marketing strategy and planning. The behavioral pattern of the people, in the decision making process of buying products and services... psychology ...
5 Pages(1250 words)Essay

Markting

...Charles O. Godornes 22 March The Calorie Intake Counter Watch Table of Contents: Overview of the Product 2 Target Market 3 Demographic Segmentation 3 Psychographic Segmentation 4 Price 5 Selling Price 5 Labor Cost 5 Material Cost 5 Raw Cost 5 Place 5 Promotion 6 Works Cited 7 OVERVIEW The name of my product is the calorie intake counter watch. This is a device that allows the user to track the amount of calories he or she has taken during a meal. This is a strap-on wrist watch which has a special device installed at the back portion of the watch where the steel plate of the watch and the skin of the user... O. Godornes 22...
5 Pages(1250 words)Assignment

Markting

...Answer Communication is one of the most important issues in the current time. So I recently bought a new Nokia phone when my previous one was lost. Mobile phone is a necessity because it helps me to be in constant contact with my family and friends. My last phone was also Nokia so when I had to buy a new instrument, I decided to go for this brand only. It is cheap, easy to navigate and sturdy enough to last a long time. Most interesting part is that it does not easily break and continues to work, even when it falls from a distance! It not only helps me in my social networking but also hugely helps me in contacting people in the time of emergency. Answer 2 Nokia is an established brand in the area of mobile technology. It offers...
1 Pages(250 words)Essay

Markting

... Johnson and Johnson Brief Company Profile Johnson and Johnson Company is a leading health care and pharmaceutical provider to its consumers. It is a vast and sixth consumer health company with the most assorted medical appliances. It is also a biologic company with the interest of bio-research at hand. It is equally distributed all over the world with an association of 250 functional companies in almost 60 countries world wide. It has its headquarters at the city of Brunswick, New Jersey. J & J owns the Merck Consumer Pharmaceuticals Co, which is a co-distributor of its products. (Form 10-K 2). The J & J’s company structure mainly revolves along its services to pharmaceuticals, consumer Medicare and health equipment... Johnson and Johnson ...
3 Pages(750 words)Essay

Markting

...Running Head: PRICING AND PROMOTION STRATEGY Inserts His/Her Inserts Grade Inserts Pricing and Promotion Strategy Johnson & Johnson, Inc. Johnson & Johnson (J&J) is a worldwide producer of the health care products and is also a large-scale provider of other services related to it. The company successfully undertakes its international business with the help of its auxiliary branches functioning all across the world. The organization carries out its chief operations in Europe, US, Africa and Asia Pacific region. Johnson & Johnson (J&J) is the leading consumer health company in the entire world, is involved in the research and development, production and selling of the products for consumer health care, and also provides the medical... Head:...
4 Pages(1000 words)Essay

Markting

... Consumer Behavior: Borders Group Inc. What primary factors contributed to Borders demise? a. Lack of digital books which has taken the new era; Online reading and selling of books b. Lack of door delivery to the clients after online purchase of the books c. Most of the clients complained of Promoting online books What strategies is Barnes & Noble using to avoid a similar fate (i.e., similar to Borders)? a. They created their own site to ensure they achieve internet bookstore or online bookstore. b. The company published online books; publication of digital books. How do the changes in consumer behavior in the book industry affect the business model for book retailers? How can a company like Barnes & Noble continue to make money... Consumer...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Markting 3000 for FREE!

Contact Us