The Role Of Product And Brand Strategy Essay

1129 WordsNov 16, 20155 Pages
Introduction: The role of the Product & Brand becomes more precious when the economic and industry in stability continue to impact Business to Business buying and selling. Kotler (2001) Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. As research has explained the customers’ needs and wants, as well as their tastes & preferences, such that it becomes easy for the companies to understand their customers. For achieving the goals the brand strategy must be done in the successful brand. On the potential buyers, B2B markets are concentrating more. Branding is the process by which firms distinguish their products from that of their competitors. (Kotler, 2001) Brand is a complex symbol that can convey up to 6 levels of meaning i.e., attributes, benefits, values, personality, culture and users. In the product and brand strategy, the elements of a product strategy, product platforms and product portfolios are being discussed, merits of branding, brand loyalty, generic branding concept, family branding and reason for gaining importance in private brands. Literature Review: (Burnaz.S & Bilgin.P) Due to the change in market conditions and competition from the global, the importance of branding the products and services are learnt. Branding reduces the distribution costs and efficiency of promotions are increased. The main motive of brand marketers is to shrink the cost of new products and the risk of
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