IF THE COMPANY IS KNOWN THEN IT IS NOT SO DIFFICULT. FOR
INSTACE RELIANCE COMPANY.. THEY DIVERSIFIED THEIR BUSINESS
IN MANY STREAMS - PERTROLEM TO RELIANCE FOOD FRESH & IN
FOOT PRINTS. THEIR COMPANY NAME WITH PROMOTIONAL ACTIVITY
IS ENOUGH TO MAKE IT BRAND.BT IF COMPANY IS NEW THEY HAVE
TO TAKE CARE IN MANY WAYS- LIKE COMPETITORS AND THEIR
COMPETITIVE ADVANTAGE..COMPANY HAS TO GO FOR AGGRASIVE
MARKETING.. MAKING FULL USE OF MARKETING MIX.. DOING
PROMOTIONAL ACTIVITY AND AT SAME TIME TAKING CARE OF ALL
THE P'S & A'S (AFFORDABILITY,ACCESIBILITY ETC.)IN
MARKETING. PROVIDE QUALITY& QUANITITY TO CONSUMER WHICH IS
PROMISED. ALL THIS EFFORT WILL HELP TO MAKE A BRAND KNOWN
AND AT - TOP OF THE MIND.
i think it is difficult for any company to establish its
new brand because people dont know about their pros.
a new brand can be established with the help of promotional
activities so that people came to know this product
importance. a proper strategy can be helpful also. so i say
advertisement, proper promotional activities and very good
share of retailers can established our new brand. blue
chips companies can take advantage of their positioning.
but it not means new companies can not establish their
brand
when a company provides such products which are designed
around us(consumer),easy to experience and advanced in
technology,then it can surely create its brand.
It is so difficult to establish a new brand in the market
in between existing companies. because they already have a
competative advantage. If a new company want to establish a
new brand then first of all it has to analyse whole the
market to understand that what are the needs of consumers
how many copetitors in the market and what strategies they
are using. then it has to develop som new ideas regarding
product. set its marketing mix, create a suitable strategy,
technology, location, target marketing, positioning, budget
etc.
It would not so difficult to establish a new brand if proper
research & planning is done. For this you will have to
carefully analyze the positioning of your competitor. If
they have got a strong positioning then your USP will be
very important to gain competitive advantage. If not then
importance on 4p's will do the act.
for launching new products it is nacesery for company to do
a business research by this company can know the real demond
for the new brand after that advartsment,promotional
activity 4 P,s are also nasesery 4 positioning the product
in customer mind which will give a competitive advantage in
market
BRANDING IS A GOOD STRATEGY TO HAVE A PRODUCT & THE FIRM AN
IDENTITY.IT CAN BE DONE THROUGH EFFECTIVE MARKET STUDY &
ANALYSIS OF THE COMPETITORS STRATEGIES & THEIR POSITION.IT
IS AN HARD WORK BECAUSE IN THE MARKET THERE ARE MANY
PRODUCTS & FIRMS WITH A STRONG BASE.SO FOR BUILDING A NEW
BRAND WE HAVE OVERCOME THE COMPETITORS AND SATISFY THE
CONSUMERS.SO THAT WE CAN DEVELOP AND ESTABLISH IN THE MARKET
STRONGLY.
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