How to convert a product into brand, this is something really special
which modern business managers are currently focusing in order to attract more
customers for their existing products. A
successful business manager clearly knows how
to covert product into brand. Through this, he can able to generate more
profit by simply attracting more customers and selling his product at higher
price as compared to the other competitors. However, for this purpose, he needs
to adopt more business strategies which can transform a product into brand.
There could be more than single
strategy involved in transforming a
product into a brand. The basic idea behind transforming a product into a brand is that people knows your
product by name rather knowing it by the organization’s name. We can see many
examples of renowned brands like if we take the example of corolla, as it is considered
as the one the top selling sedan throughout the world. Although, the
manufacturing company is Toyota, which is said to be one of the leading car
manufacturing company in the world. There are other examples as well like
iPhone, etc.
In existing market place,
globalization has converted the whole world into a global village, where people
can sell their products well beyond the boundaries of their homeland country. You
can often found imported items in your local super markets. Converting a product into a brand requires
a lot of efforts like market information and also you should know your
competitors. Basically, global brands have personalities and this can be
developed through comprehensive global research.
If you ask this question to
someone that how you can convert a product into a brand? The fact is, it is not
an easy question to answer. This answer requires clear understanding along with
having background of a comprehensive research. Making a brand means creating personal or individual identities. Each personal has unique characteristics which
can make it special and also create an image in the mind of the consumer.
In
addition, there are some products which have transformed themselves into the
brand identity like Apple, Harley-Davidson, and Starbucks, etc. In modern
world, we can see new brand ambassadors hired by top-level companies to promote
their products. They are paying them higher prices to represent their brands
and products and to promote them into the market. There are human brands as
well, as it is relatively newer term which you have heard. People like Jenifer Lopez, Bill Gates, and others. They are simply human brands.
Recent
research is clearly suggesting that nowadays people are seeking personalities
in order to strengthen or making their existing identities stronger. Marketers need
to find new way outs and adopt the strategies to convert the products into the brands. This is what considered as
the basic need of modern business world and primary responsibility of modern
business managers and marketers. Fewer more examples like if we call the name
of the movie “I am legend” we can name
of “Will Smith” straightaway in the back of our mind. This is what
known as “human brands.”
