Conduct accurate market research on target customers to choose the best brand marketing strategy. The marketing mix strategy, including price, packaging, distribution, and promotion, must be carefully planned. Product positioning and branding strategies should target different market segments. A solid brand image increases consumer awareness, and advertising must communicate the strategic message effectively.
The most important step in choosing the best brand marketing strategy for your product is to conduct accurate market research on your target customers. After all, the reason you have a product on the market is to get it into the hands of consumers. You simply won’t be able to do this effectively unless you use marketing strategies that target your target customers directly. Understanding their needs and wants should guide your branding strategy across all parts of your marketing mix.
The marketing mix strategy includes all the details about how a product is marketed to its target audience. Everything from the price of the product to how it is packaged, distributed and sold must be carefully planned for the best possible sales performance. Distribution channels, or how the product reaches the target consumer, must also be carefully considered. Will the product be better sold to buyers in person or on a website? The answers to questions like this are tied to the final determination of the best brand marketing strategy.
The brand is the consumer’s image of your product that includes your name and general identity. To discover the essence of a brand, marketing experts often suggest that marketers think about how the product will be positioned in the marketplace. Product positioning refers to the selling angle that different brands of similar products offer. For example, vanilla ice cream can be sold in a large plastic tub and made with less expensive ingredients, or it can include real vanilla beans and be packaged in a small, elegantly printed cardboard container.
The brand marketing strategy would be different for the two ice cream brands as they would target different market segments. The smaller, more elegant brand is likely to be purchased by singles or couples, while the bigger savings are aimed more at families on a budget. The packaging and pricing of the two ice cream brands would reflect different branding strategies. Promotion or advertising would also be very different. Affordable ice cream buckets would be positioned to save money, while the premium variety in the fancy containers will likely be promoted as being of high quality.
A solid brand image increases consumer awareness. It’s important to remember that your product advertising must communicate your strategic message to the people most likely to buy it. Flashy and artsy commercials can amuse, amuse, and even win awards, but if your target audience doesn’t remember your brand after seeing your ads, your advertising budget isn’t being effectively used in your brand marketing strategy.
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