Markting 3000 Essay Example | Topics and Well Written Essays - 500 words

Markting 3000 - Essay Example This paper analyses the different aspects of brand image on the development and implementation of a new product. Branding should be unique and attractive in order to catch the attraction of the customers. Logos or trademarks are important in developing a brand. Logos must reflect the theme of the product we are going to develop. It should not be confusing to the customers. It is not possible to convince the customers by selling high quality products for cheaper rates alone. Low prices, superior quality, great advertising, stunning packaging etc are part of brand development. All these things develop a psychological attraction among customers towards the brand, not the product. Market is overcrowded with millions of products of same and different natures which made the customer’s task more difficult in selecting a suitable product for them. In such circumstances they will put their trust on brands rather than the products. New product developers must keep all the above points in their mind when they planning to develop a product. New product development is a difficult and complex thing for entrepreneurs. The entrepreneur must research thoroughly in the market in order to realize the needs of the customers which were unmet by other suppliers in order to conceptualize the new product development process. In other words, realization of opportunity is the first step in the development of a new product. These opportunities must be analysed thoroughly in order to learn more about the possible success and failure factors of the new product which is going to be developed. If the entrepreneur was confident about the success of the product, then he can start the idea generation process. During this period, he must evaluate different ideas about the production, packaging delivery and marketing of the products which will help him to fix