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Excellent consurmer product (Branded)
+ Extensive marketing from all channels (paper, internet and e-commerce and even social media web sites)
+ Regular customer surveys (listen to feedback + complaints) and continuous improvement in the quality of your products.
+ Customer satisfaction and loyalty is the key to major success.
+ Distinguish your product from the competitors.
+ Dedicated team for business development and market research to know who is your target customers and the current trend.
Customer satisfaction.
quality control, they ensure their product is perfect to the best of their ability and retain that quality.
The reason is consumer comfort, trust and satisfaction so they are more unwilling to change.
And you build a new BRAND through marketing strategy and product focus.
For example;
GOLDSTAR … in the early1990’s the Korean company “Later on Known as(LG)” invaded the market with a new name cold “GLDSTAR” TV’s they made it available and affordable for every mid to low income consumer with marketing strategy and warranties away beyond the known brands and courtesy to fulfill the new customers’ expectations. So consumers were willing to try and give it a shot, follow-up maintenance was available everywhere.
Once they captured a bite of the market pie they change the name into “LG” and they continued the marketing targeting mid to high income consumers and with more pipeline production verity.
Nowadays just look around - how many LG’s you see.
The only tip I know for new branding is: make sure it is done right from the first time.
Building a strong brand is the goal of many organizations. Building a strong brand with significant equity is seen as providing a host of possible benefits to a firm, including greater customer loyalty and less vulnerability to competitive marketing actions and marketing crises, larger margines as well as more favourable customer response to price increases and decreases, greater trade or intermediary cooperation and support, increased markeing communication effeciveness, and licensing and brand-extension opportunities.
It is because they continue to improve and deliver upon the promises for which the brands stand for, and also continue to deliver inovative brand recall activities.
Good Quality , Strong Team , well organized and clear process
Quality
Customer centric / Customer service
I think that the reason why strong brands succeed to hold their position is that they try to adapt their product to the current needs of the customers. They always add a twist to their old product to give a brand new exciting experience to their customers . For instance , MANGO apparel was centered on casual chic products , now they are bringing a new twist; dimensions to their clothing line by adding a sport category , hence attracting a new segment of the market aka health concious individuals . Similarly , APPLE products & Samsung -2 leading brands of smart products continue to conquer the tech market by improving the iphone5 and galaxy series. I think it's all about their marketing strategy which is selling an experience rather than the product itself .
It is the majority of consumer behaviour to follow strong brands rather than the function of the products or services. Strong brand create trust in their target market. Ofcourse to be stronger brand, it take time and lot of hard work. Factors involved to make a premium quality products are Quality, Availability and On time delivery and best customer service.
