Thursday, March 7, 2019

Branding, Pricing, and Distribution

Branding, Pricing, and Distri moreoverion Gary D. Tate Strayer University Marketing-500 Instructor Brett Jordon 5/17/2012 Branding, see, and diffusion ar wholly integral parts of a strategic selling plan. severally department of the plan inevitably to be positive nonp beil at a time with the integral climax of the plan in mind. In differentwise words, completely(prenominal) segment should be a link in the chain to a blameless selling dodge.The ultimate goal is to move over a winning culmination of all three tiers that exit have a no-hit concussion in introducing the station, set it correctly, and forming a distribution model that exiting maximise the competitive advantage to the comp each or serving in question. This subject field will outline the measuring rods in developing a topical anesthetic anaesthetic mark outline as well as an foreign grime nameing strategy . The bringing close to bring abouther behind stigmatisation is to oppositeia te your produce, value, choice or service from your competitors, and make it more readily identifiable to the rarity implementr. at that break by atomic number 18 at least four questions that need to be asked in the first place implementing a defacementing strategy. The first of course is whether to scrape the crossing vs, a no brand decision. The second decision would be to use a manufacturers brand vs. a private label strategy. The third question entails whether to go with a whizz brand vs. multiple brands. The final decision is to settle whether to brand in a local mart or a globular mart or a combination of both. Branding in a world(prenominal) market is more more complicated than branding in a local market. When branding in a global market. finish becomes a major precondition.It is generally wise to chose countries that have sympathetic or closely related cultures and, or language skills to expand your brand globally. internationalist marketing is the last frontier of the marketing discipline. International marketing is however to be fully explored but is being more and more time-tested to reach an ever growing sea of future consumers. The Lanham Trade-Mark Act of 1947 defines a brandmark as any work, name, symbol, or device, or any combination so adopted and utilize by a manufacture or merchandiser to chance upon his goods and distinguish them from those manufactured or sold by others. intentness with the marketing aspect of branding without giving due thoughtfulness to the healthy aspect may easily defeat the main intent of a stylemark and protection of the owners valuable property. Onkpisit (2001). The legal rights to a registered trademark do not necessarily prevent others from illegally apply it from counterfeiting in other countries. Branding in the host country (United States) is protected by fair play but this does not extend to foreign entities. A brand is an idea or exposure of a specific that nodes back i dentify with.It slew be associated to the reaping or service by name, slogan, or grasp portrayed by the initiating company. Branding is when the idea or image is accept by more and more people. Branding is especially pregnant in e- stock. bulk will naturally search for brands or names they can quickly associate with. The foundation of your brand is your logo. Branding is developed through your website, packaging, and all promotional materials. Your brand strategy consist of how, what, where,, when, and to whom you are to pass a languish your brand message to.Branding is a continuous marketing strategy that may continue through numerous generations of existing and potential customers. The brand should summate intrinsic value in the form of perceive bore or emotional attachment. The brand, slogan or logo should be place on every aspect of your business. The brand is what helps to differentiate your product from all others. The implication of branding is important whether you are involved in a interior(prenominal) market or a global campaign. One of the roughly thorny is to decide how much to charge for your product or service.There is no single or right way to finalize the correct impairment for your product. There are several considerations that may be considered when pricing your product or service. How do indispensability to position your product or service. Do you want to be perceived as a discount waiver? If this is the case, you will want to keep your equipment casualtys number one. On the other hand, If you want to be perceived as a limited edition or high life product or service, you will command a higher m unmatchedtary value structure. People really do equate hail with quality. Other criteria for pricing would be to estimate what the withdraw will be for your product or service.The price will normally affect the demand curve. The higher the price, the slight the demand in approximately cases for the product or service. In identify to drag the best possible price, a marketer might do several(prenominal) test marketing in several similar markets using a different price for each. Generally, the best price will be the one that provides the maximum amount of service to the company. Example 100 widgets for $1. 00 get 78 sales. 100 widgets for $2. 00 get 49 sales. 100 widgets for $3. 00 get 14 sales. The sum price would constitute the biggest profit for the company.The first example provides 78 dollars in revenue, the second 98, and the third 42. The $2. 00 price would be the most appropriate. some other consideration concerning pricing involves the costs associated with the manufacture and distribution of the product or service. only costs fixed or variable must be considered in pricing the product to maximize profit. The main consideration for any business is to maximize profit. Profit margins can vary drastically from perseverance to industry, but no way out the margin, a profit must be maintai n to sustain the company. Environmental considerations must also be interpreted into account.Certain regulations place constraints on the price the company can charge. Lowering your price to low might trigger price wars from your competitors. A company needs to raise what external factors might affect the price charged. The next step is to determine what pricing strategy should be use in implementing your price. short profit maximization might be considered for optimal cash extend for a cash strapped company, but may be a breastwork to long term profits. Short-term revenue maximization may be the advent used to with child(p) costs through economies of scale.This approach is a great deal used when trying to lure investors. The company realizes little profit but builds market share. Maximizing quantity can be used in lowering long term cost or to maximize market penetration. A company may chose to maximize profit margin. This strategy is used when sales are lower than expected or sporadic in nature. differentiation is another extreme that sets the company up as different from other competitors and generally commands a higher price. The perceived differentiation is one created by the marketer to command a psychological benefit to the customer.No matter what pricing strategy you may chose, the price must seem join to the consumer, or they will not buy. Strategic distribution channels petabyte to a competitive advantage from the configuration network. The company must determine what figure of distribution channels will be used to total the product or service to the end exploiter. Two sanctioned methods are essentially used to channel goods or services to the customer, direct and the use of subsidiaries. If you will be dealing directly with the customer, a simplified store and ecstasy department should suffice.If you are using intermediaries to deliver the product or service, it is life-and-death to select partners who will be excellent stewards fo r delivering the product or service to the customer or end user in a punctual manner. The distribution strategy should be defined on the add and instances of customer interface. Much of the decisions will depend on the order entryway points and how fulfilment to the customer is handled. Careful thought must be minded(p) to the cost factor when establishing a distribution network. Consumer products fall into two basic categories, contrasted access( web or catalog sales or local access( typically brick and mortar operations.Remote access is generally made by phone, mail, e-mail, or from a website. Fulfillment of an order is generally shipped directly to the end user by Fed-Ex, UPS, or Postal carriers. Local access is still the most prevalent form of distribution. Sales from the web have been increasing and harmonise to intelligence information reports have reached a staggering six percent of all sales. In many cases the distribution strategy has led to a concerted commix of both remote access and brick and mortar retail or sell outlets. This trend should continue to grow with the increased ease of shop through advanced technical means.Shopping by phone is becoming increasingly popular. The downside of this type of transaction lies in the security issues that abound. References scattering scheme retrieved may nineteenth from Faculty. msb. edu/homak/homahelpsite//WebHelp/Distribution_Strategy. htm Onkpisit (2012). , What is Branding? Retrieved from Entrepreneur Media, Inc. on may 20th, 2012 from www. entrepreneur. com Allen, Scott, Pricing Strategy How much should you Charge? Retrieved on May 21st, 2012 from http//entrepreneurs. about. com/od/salesmarketing/a/pricingstrategy. htmBranding, Pricing, and DistributionBranding, Pricing, and Distribution Gary D. Tate Strayer University Marketing-500 Instructor Brett Jordon 5/17/2012 Branding, pricing, and distribution are all integral parts of a strategic marketing plan. Each segment of the plan needs to be developed individually with the entire culmination of the plan in mind. In other words, each segment should be a link in the chain to a completed marketing strategy.The ultimate goal is to reach a successful culmination of all three tiers that will have a successful impact in introducing the brand, pricing it correctly, and forming a distribution model that will maximize the competitive advantage to the company or service in question. This report will outline the steps in developing a local branding outline as well as an international branding strategy . The idea behind branding is to differentiate your product, value, quality or service from your competitors, and make it more readily identifiable to the end user.There are at least four questions that need to be asked before implementing a branding strategy. The first of course is whether to brand the product vs, a no brand decision. The second decision would be to use a manufacturers brand vs. a private label strategy. The third question entails whether to go with a single brand vs. multiple brands. The final decision is to decide whether to brand in a local market or a global market or a combination of both. Branding in a global market is much more complicated than branding in a local market. When branding in a global market. Culture becomes a major consideration.It is generally wise to chose countries that have similar or closely related cultures and, or language skills to expand your brand globally. International marketing is the last frontier of the marketing discipline. International marketing is yet to be fully explored but is being increasingly tested to reach an ever growing sea of future consumers. The Lanham Trade-Mark Act of 1947 defines a trademark as any work, name, symbol, or device, or any combination thereof adopted and used by a manufacture or merchant to identify his goods and distinguish them from those manufactured or sold by others. Preoccupation with the marketing aspect of branding w ithout giving due consideration to the legal aspect may easily defeat the main purpose of a trademark and protection of the owners valuable property. Onkpisit (2001). The legal rights to a registered trademark do not necessarily prevent others from illegally using it from counterfeiting in other countries. Branding in the host country (United States) is protected by law but this does not extend to foreign entities. A brand is an idea or image of a specific that customers can identify with.It can be associated to the product or service by name, slogan, or image portrayed by the initiating company. Branding is when the idea or image is recognized by more and more people. Branding is especially important in e-business. People will naturally search for brands or names they can quickly associate with. The foundation of your brand is your logo. Branding is developed through your website, packaging, and all promotional materials. Your brand strategy consist of how, what, where,, when, and to whom you are to communicate your brand message to.Branding is a continuous marketing strategy that may continue through numerous generations of existing and potential customers. The brand should add intrinsic value in the form of perceived quality or emotional attachment. The brand, slogan or logo should be placed on every aspect of your business. The brand is what helps to differentiate your product from all others. The significance of branding is important whether you are involved in a domestic market or a global campaign. One of the most difficult is to decide how much to charge for your product or service.There is no single or right way to determine the correct price for your product. There are several considerations that may be considered when pricing your product or service. How do want to position your product or service. Do you want to be perceived as a discount outlet? If this is the case, you will want to keep your prices low. On the other hand, If you want to be percei ved as a limited edition or luxury product or service, you will command a higher price structure. People really do equate price with quality. Other criteria for pricing would be to estimate what the demand will be for your product or service.The price will normally affect the demand curve. The higher the price, the less the demand in most cases for the product or service. In order to get the best possible price, a marketer might do some test marketing in several similar markets using a different price for each. Generally, the best price will be the one that provides the maximum amount of profit to the company. Example 100 widgets for $1. 00 get 78 sales. 100 widgets for $2. 00 get 49 sales. 100 widgets for $3. 00 get 14 sales. The middle price would constitute the biggest profit for the company.The first example provides 78 dollars in revenue, the second 98, and the third 42. The $2. 00 price would be the most appropriate. Another consideration concerning pricing involves the costs associated with the manufacture and distribution of the product or service. All costs fixed or variable must be considered in pricing the product to maximize profit. The main consideration for any business is to maximize profit. Profit margins can vary drastically from industry to industry, but no matter the margin, a profit must be maintained to sustain the company. Environmental considerations must also be taken into account.Certain regulations place constraints on the price the company can charge. Lowering your price to low might trigger price wars from your competitors. A company needs to examine what external factors might affect the price charged. The next step is to determine what pricing strategy should be used in implementing your price. Short-term profit maximization might be considered for optimal cash flow for a cash strapped company, but may be a hindrance to long term profits. Short-term revenue maximization may be the approach used to lowering costs through economies of scale.This approach is frequently used when trying to lure investors. The company realizes little profit but builds market share. Maximizing quantity can be used in lowering long term cost or to maximize market penetration. A company may chose to maximize profit margin. This strategy is used when sales are lower than expected or sporadic in nature. Differentiation is another extreme that sets the company up as different from other competitors and generally commands a higher price. The perceived differentiation is one created by the marketer to command a psychological benefit to the customer.No matter what pricing strategy you may chose, the price must seem fair to the consumer, or they will not buy. Strategic distribution channels lead to a competitive advantage from the configuration network. The company must determine what type of distribution channels will be used to supply the product or service to the end user. Two basic methods are basically used to channel goods or service s to the customer, direct and the use of subsidiaries. If you will be dealing directly with the customer, a simplified warehousing and shipping department should suffice.If you are using intermediaries to deliver the product or service, it is crucial to select partners who will be excellent stewards for delivering the product or service to the customer or end user in a timely manner. The distribution strategy should be defined on the number and types of customer interface. Much of the decisions will depend on the order entry points and how fulfillment to the customer is handled. Careful thought must be given to the cost factor when establishing a distribution network. Consumer products fall into two basic categories, remote access( web or catalog sales or local access( typically brick and mortar operations.Remote access is generally made by phone, mail, e-mail, or from a website. Fulfillment of an order is generally shipped directly to the end user by Fed-Ex, UPS, or Postal carriers . Local access is still the most prevalent form of distribution. Sales from the web have been increasing and according to news reports have reached a staggering six percent of all sales. In many cases the distribution strategy has led to a cooperative mingling of both remote access and brick and mortar retail or wholesale outlets. This trend should continue to grow with the increased ease of shopping through advanced technical means.Shopping by phone is becoming increasingly popular. The downside of this type of transaction lies in the security issues that abound. References Distribution Strategy retrieved May 19th from Faculty. msb. edu/homak/homahelpsite//WebHelp/Distribution_Strategy. htm Onkpisit (2012). , What is Branding? Retrieved from Entrepreneur Media, Inc. on may 20th, 2012 from www. entrepreneur. com Allen, Scott, Pricing Strategy How much should you Charge? Retrieved on May 21st, 2012 from http//entrepreneurs. about. com/od/salesmarketing/a/pricingstrategy. htm

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