A brand usually refers to the design, name, symbol or any other feature which di
ID: 373708 • Letter: A
Question
A brand usually refers to the design, name, symbol or any other feature which differentiates one sellers goods or services from other sellers.
The brand is the foundation of marketing communication and it promotes recognition, helps set one apart from the competition, tells people about the business DNA and helps customers know what to expect.
Performance, design and functionality are the main deciding factors when a customer goes for purchasing a product. A company can leverage its Brand and reputation to introduced the inferior product. Any good product should solve a problem, thereby satisfying a customer need as per their expectations.
A good brand marketing may help the company deliver sales initially. However, as customers use the product for longer duration, they will get to the conclusion that the product is of inferior quality and does not suit their needs. This will especially be the case as the customers compare the product from its competitors and find it not up to the mark. The customers will already have their expectations set at higher standards from the competitive products.
The word of mouth about the inferiority of product will gradually spread and people will stop using the product. Subsequently, new sales will also dip because people will not buy the product anymore.
Further, the brand which helps people trust company, will also go for a toss. The brand reputation over the period of time will be badly hurt and will also affect sales of other products of the same brand.
Therefore, the good brand marketing strategy with an underlying inferior product will not only hamper the sales of the new product, but will also do a great deal of damage to the company brand in the long run, thereby harming the sales of other products of the company as well.
Explanation / Answer
xxxxxxxxxxYour project company is contemplating introducing a product that is inferior to its competition in its performance, design, and functionality. However, your project company believes that “good brand marketing” can overcome these shortfalls. Why is this thinking incorrect?
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