We all study marketing mix with basic 4 P's and we are just aware with one of the P, i.e. PRODUCT..!! Just aware means..??? Have we ever wonder what that PRODUCT actually means..??? Coming with today's learning, I came to know that, when PRODUCT is to launched in the competitive market, the marketer has to prove its Brand image, then only he is going to get the result of his efforts...i.e. Revenues..!!
When a product is to be given a Brand value, it has to be introduced with a distinct image than that of the competitor's one. Here comes the Competitors Analysis System. A marketer proves the exclusivity of his product. A study focusing on the competitor's product, its features, the effect of competitors on his product; gives the probable position of his product. This study also helps in the improvements to be done to cope-up with the market demands.
The above analysis of the product with number of different competitors predicts the most probable value of the product, and if the product is made superior, then it gains the brand image....!! So, every learning marketer needs to carry out this analysis so as to create the brand image of his own or his organization's product..!!!
With thanks to Prof. Siddharth Mishra,,,
Rohit Bawankar
When a product is to be given a Brand value, it has to be introduced with a distinct image than that of the competitor's one. Here comes the Competitors Analysis System. A marketer proves the exclusivity of his product. A study focusing on the competitor's product, its features, the effect of competitors on his product; gives the probable position of his product. This study also helps in the improvements to be done to cope-up with the market demands.
The above analysis of the product with number of different competitors predicts the most probable value of the product, and if the product is made superior, then it gains the brand image....!! So, every learning marketer needs to carry out this analysis so as to create the brand image of his own or his organization's product..!!!
With thanks to Prof. Siddharth Mishra,,,
Rohit Bawankar
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