By: Yaacov Weiss
SEQ CHAPTER
Welcome! Please allow me to lead you into the fascinating and somewhat mysterious world of marketing and branding. This column is intended for anyone wishing to sell something to the public. The techniques I will convey to you here are based on extensive research by some of the world’s leading marketing firms and have been proven to work. You’ll learn why consumers buy certain brands though they are not necessarily cheaper or of better quality, and avoid others even though they are not necessarily inferior or more expensive.
Let us start our discussion with a simple, yet profound truth: What makes consumers gravitate to any particular product or offering? It is a result of their minds envisioning it fulfilling some unmet need or desire in the best possible manner available. Branding and marketing therefore, are the processes of creating signals that communicate to a targeted audience that the product or offering will fulfill their needs or desires in a manner most appealing to them. Traditional marketing has been categorized into Product, Price, Place and Promotion (The Four “P”s). In general, these four categories are the main ingredients that make up almost any offering. They combine to form a “marketing mix.” While each category is broad and deep, we’ll try to keep it simple:
Product – This refers to what you are actually selling (can be services as well). This includes the whole package, including warranties, accessories, etc.
Price – This refers to the price you set for the “product.” The perception of a product changes according to the price it commands.
Place – This refers to placement in a retail environment. (Example: The same product can be sold in discount stores or upscale stores, in pharmacies or in grocery stores.) It also refers to the method of distribution. (Example: Some clothing companies sell through third party retail stores, whereas others sell through their company websites.)
Promotion – This refers to how you communicate with your targets, letting them know you exist and what you are offering. It includes advertising, public relations, internet marketing, signage, visibility, etc.
When properly developed, the Four “P”s cover a vast array of issues that affect/create buyers’ perceptions and form the basis for a working marketing plan. Now, let us turn to branding. If marketing were a ship, branding would be its rudder; if marketing were a project, branding would be its direction manual.
Branding is the art of discovering and formulating an identity that makes your offering most appealing to the target audience. Just as we are attracted to some people over others, we are similarly drawn to specific brands and products over others. In the branding phase, you’ll need to decide, amongst other things, the tone of you offering. For example, should your presentation be classy or rugged, cheerful or muted, animated or relaxed, sophisticated or simple, serious or humorous, trendy or classic, masculine or feminine, etc.? The 4 Ps of marketing are channels through which the brand identity is generated and proliferated. Consequently, before you try to develop your marketing strategy, you must first choose a brand identity. Our next article will give you an overview as to how to locate the starting point for your brand identity.
Yaacov Weiss is a brand strategist and founder of TUG, a branding and marketing firm based in Lakewood, NJ. If you’d like Yaacov to position your business, call 732-276-6432. You may also email Yaacov at yaacov@tugbranding.com or www.tugbranding.com
