Branding/Advertising vs. Product Development
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In recent years there has been more of a shift towards more branding and advertising as opposed to focusing on product development, resulting in some companies having strong advertising campaigns coupled with a non-successful product.
These observations lead to an important marketing theorem: Successful brands are built on successful products.
The belief is that without great products, great brands could neither not exist nor withstand the competitive market. answer the following questions pertaining to the theorem.
•Do you agree or disagree (partially or completely) with the theorem that successful brands are built on successful products? Why or why not?
•Provide examples of brands and their products that a) prove the theorem and b) disprove the theorem. Explain your reasoning.
•Why do so many companies appear fixated on branding rather than on ultimately developing successful products? In real terms, how would you as a marketing executive balance these two marketing forces.
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Solution Summary
The expert examines branding and advertising versus product development.
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Introduction
Brand is the name, design and image of a product or service that helps to differentiate from others. Building a successful brand in today's competitive environment is not everyone's cup of tea. It needs so much of consideration regarding surrounding and likes and dislikes of people which can be changed as per time. This guideline includes the discussion of two different aspects of branding, one denotes the theorem- successful brands are built on successful products and the second denotes the assumption- branding and adverting can get success without successful product.
Successful Brands Are Built On Successful Products or Not
The two ways can be seen in relation to the theorem: successful brands are built on successful products. One way denotes that a successful brand can be built with assessment of successful products. If a brand does not include the product that is made with consideration of market needs, trends, price then it may not get success in the long term. For short-term a non-successful product can grab attention of people with creative advertising but in long-time people get information regarding the ineffectiveness of the product which directs the brand towards failure (Ashworth & Kavaratzis, 2010). Therefore, a successful brand building process firstly needs a strong product.
Another Way/aspect denotes towards the importance of advertising and other elements of branding to build a successful brand. Today, advertising has taken very important place to seek customer attention. So, only availability of strong product is not enough for brand's success in the market but the awareness regarding product's features is also needed. For this awareness, advertising takes ...
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