I talked to a friend the previous day and he was addressing me on the concerns which her company is facing in the marketing sector…the “branding monologue.”
For most successful production companies today, investing in marketing programmes plays a key role in the success of sales of their products. Therefore if you want to keep interest of your products to your consumers, you must be ready to invest.
So, what are some of the factors that boost the sales of your products?…branding and advertisement. For her company, it’s doing well with the advertisement but it’s maintaining a monologue branding.
For ‘monologue branding’ I mean, whatever labeling the company used for its products over 5 years ago, is what it’s still using today. It’ll be a cliche to the eyes of the consumer and eventually when it turns all boring, and a new competitor comes in, the stocks will stagnate on the shelves due to the low buyout.
So, for her company, they came up with a new slogan, “why change our labeling while the brand name is selling itself?” Total sleep out on their work! On a short study , I came to notice, while they are on a holiday spree in their offices, their products on the supermarket shelf and retail stores were facing a declining sell out compared to their competitors.
Changing the branding design on the labels of your products introduces a fresh eye to the consumer. Most people buy things today based on the attractiveness of the product itself. This may include from the shape of the product package, ‘graffiti’ on the product labels and also the color design used. One of the reason we don’t use the first generation Nokia phones or the old model Zenith TV today is because people got tired of the monologue color of black and white.
So as much as the brand of your product is selling today, don’t cut on the cost of marketing. The reason why Coca-Cola is still the leading company in the market share soft drinks companies is because it invests a lot in marketing. It’s the one of the best ways to get in reach of the consumers to identify your brand and products.
So as much as the ‘unnamed’ company personnels are slacking in their offices, it’s a pity that they are facing a downfall, unknowingly, out of ignorance. And much worse in that they fall deaf to other people’s ideas in a belief that they’ve got a hold.