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Product mix decisions are usually the most important and fundamental of all marketing strategy decisions. Corporations are careful to coordinate product decisions to avoid the risk of stretching company resources into product-markets offering little competitive advantage. Thus a product policy must be formulated to which all decisions are tied. One of the main marketing strategies employed in modern firms to great effect, is branding and packaging. A product brand stands out from other similar products being offered by competitors. It helps position an organization in terms of price level, quality, service and other factors that are critical in reaching the target market. Buyers often use brand image as a proxy for quality and dependability, particularly if they find it difficult to evaluate a good because of its newness or complexity. Branding, as an important competitive strategy thus creates a basis for building customer brand loyalty. Also, different brands may be used to serve different market niches. Items that are similar, with different brands present a variety of alternatives for buyers, hence increases sales in many markets. However, it should not be concluded that a good must be branded, although there are numerous advantages to branding. With some goods, a name identity can be de-emphasized and emphasis placed on the marketing strategies elements such as low pricing. The attributes to be included in each marketing policy vary a lot as each particular case is unique in its own right. The over-all product promotion has a major effect on the image of the organization, and that image as seen by customers helps spell success or failure. Stephen is an Business Organizing Expert . He researches and studies on big and small business strategies . Website:- Business Management Solutions for efficient business operations.
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business promotion, marketing strategies, main marketing, customer brand, brand loyalty, target market, marketing policy, branding, price level, marke,
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