|
Building
a Brand
|
|
|
Your
Experience |
Your
Solution |
| You are frustrated with the lack of recognition your product has here in this country, since your product is a well-known brand in other countries. | You
must raise the consumers’ awareness and perceived value of your
product. Once you do this, consumers can and will identify your product
as a brand. |
White Label makes you vulnerable
Personally, I believe that high-tech products branded as "White Label", is a short-term strategy for a company selling to retail. The retail chains can easily get another vendor without the customers knowing the difference. If a bigger retail chain wants to find a similar product – they will get it. Definition Knowing you have a good brand product occurs when the consumer buys it through the confidence of your name. The consumer is willing to pay a premium to insure they get a high quality product. The retail store sales associates can help you to create a brand; consequently, you have to educate them. (See topic on Education Management) However, the best place to build your brand name is in computer magazines in the editorial information and advertisement sections. If you advertise enough times, readers cannot remember if their knowledge of your product came from the editorial section or the advertisement. Remember to tell consumers about your awards, i.e.; PC Magazine Editors choice October 2000. (See topic on Information Management) Companies mistakenly think that because their product is a brand name in one country that it will automatically be labeled as a brand name in another country. Unfortunately, the consumer does not acknowledge your success if your product has not been publicized in their own country. |
Creating a Brand Most vendors want to create a name for their products so customers, sales channels, magazine editors, advertisers and others will recognize their brand. From day one, you start investing in the name on the package. Sale channels discover that your “name” product provides good service, price and performance. This creates a confidence between sale channels and your products and enables them to give their customers a good value for their money. Editors from computer magazines rate your products favorable, which leads customers to look for them in stores. Once a customer buys one product and realizes the quality and price are first-rate, they will buy more products and spread the word. This along with the recognition from advertising adds value to your product (See topic on Market Strategy). All of this creates more visibility for your brand, and your products are the first thing that comes to mind of customers, sale channels, and the media. Products with the name of the retail chain My experience is that consumers want either brand name or cheap products. When retail chains try to create their own brands, the consumer regards them as cheap products. There is undoubtedly a market for such kinds of products, although you as a vendor will be much more vulnerable now that you only have the price and relationship as your competitive factor. In the long run you’re better off investing in a brand. Once the consumer wants your brand the retail chains will want it too, therefore putting your product in demand.
Jens Welling |
The author of this article Jens Welling has worked with retail purchase, retail sales and retail marketing over the last 15+ years. Jens Welling has written a number of articles as a good source for any new and established company who want success with retail sales. Below are short descriptions and links to other articles. |
|
Why You Have To Do Your Homework Choosing Sales And Distribution Channels Category Management Unique Selling Points (USP) Price Strategy What The Buyer Wants To Know Exit Strategy Price Setting |
Negotiation Tactics Rejection From Buyer Marketing Strategy Education Management Warranties Building A Brand Logistics Keeping Your Store Sales Alive Product Development |
