Marketing Blog

What’s Brand Positioning?    Positioning is the way customers perceive your product. There are 3 variables that effect your positioning: price, quality and benefits. Before you start your business it is very important to understand how these variables can effect your business in the long-term. You need to research and be aware of what your competitors are offering in your industry. According to numerous studies, the more competitors in an industry, the harder it is gain market share. However, you need to find market gaps. By understanding the price, quality and benefits, thus the values a customer has, then you may be able to find to find niche products to provide.   Think about it. Most people attribute a lower price with lower quality, but the value for that market is the cost.   There are 7 bases you can position yourself in the market: By product attributes: Hyundai Excel ( low price)     By benefits offered: Colgate toothpaste (cavity c...

What’s Re-branding? Re-branding is changing the name of your brand name from one name to another. Once your brand name is set to market, all your marketing effort, that being your promotional tools are set to have your customers familiarise yourself with the new brand in that industry. Pros to Re-branding Re-branding to fit society, for example customers have become more health conscience. McDonald's is working on re-branding their image by introducing healthier options.  Changing your brand to fit a new company identity. For example Apple changed its name from  Apple Computers  to  Apple Inc,  and got rid of the colourful Apple logo.  Cons of Re-branding Customer have developed an emotional attachment to your brand. For example Coke a Cola. In 1985, based on a focus group, Coke decides to change its name to New Coke. Any social scientist would know that a focus group does not have external validity,  thus would have seen the major...