contemporary branding strategies employed by wholesaler
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Branding is one of the crucial entities that a product marketer should always put in careful consideration. Since its inception in the field of marketing, wholesale branding has seen a steady transformation, gaining more and more space in the context of product sale techniques. With the increase in marketing culture among wholesalers and internationalization of product distribution, market goods have gained value among clients with many analysts highlighting the role of marketers in improving customers’ confidence towards a particular product. Interestingly, there has been no significant change in the type of products distributed, yet wholesalers have succeeded in camouflaging behind well-branded products in a bid to make huge sales. This has highlighted the need for wholesalers to invest in new branding strategies with the aim of netting more clients to improve sales (Clifton, Simmons and Ahmad, 2003). This paper has sought to examine the various branding strategies applied by successful wholesalers today.
Wholesaler’s branding strategies have been studied by numerous scholars who have explored the concept differently based on the branding systems that have majorly been influenced by customer preferences (Dev, 2012). Most of the studies have narrowed down on the examination of customers preference and purchasing attitudes regarding a certain brand. Myers (1967) holds the notion that purchasing behavior is drawn from the relationship between prices of wholesale brands and consumer’s income. In his thinking, marketers can easily manipulate customer contentment by offering a broad range of choices that go in tandem with consumers’ income rages. His study focuses on customers’ socio-economic status as a major factor in purchasing. In the context of marketing, this characterizes a fundamental step in the future advancement and success of a brand. Sujan and Bettmann (1989) have explored the relationship between a particular brand and the perception a customer draws from the branding technique applied. In their opinion, factors such as risk, quality and awareness of the product as essential determinants for purchase. However, purchase and branding are entirely different concepts that closely interact in determining the success of any wholesaler. For any brand to take over the market, the designers need to explore carefully purchase patterns of the clients since this is the primary determinant of whether a product thrives among consumers. Being unique and offering creativity is one way to succeed when establishing a brand. The drip system is a critical tactic. However, in this concept, everything seems inclined to the relativity of brand maturity and the experience the marketer intends to create the target audiences. Consumers appreciate variety (Forbes.com, 2015). Moreover, most people love surprises. Marketers in wholesale should avoid being too predictable in their tactics. Since every brand is considered vulnerable, marketers need not be complacent. Today, marketers refresh their brands as frequent as every two years. Consumers are constantly modifying their needs and preferences for the sake of convenience (Gobé, 2001). Successful branding marketers are those that have avoided being reactive to market trends. Instead, such marketers have often been on the front line monitoring customer preferences and guiding them as the consumers try to reinvent themselves and their purchase options. Consumer engagement in this context is among the essential things for any brand to thrive (Hsu, Chen and Chen, 2013). Since marketers of different brands are fighting for the same clients, a keen eye on the consumer dynamics enables marketers to do better.
Continuous innovation with perfect timing and execution are just as important. Many people think that innovation is an obvious strategy, yet many companies have fallen short due to this fact. Recent times have seen marketers change the game in branding. It is no longer about just introducing new products; flawless timing and execution of new brands has come to be an essential factor for success (Hubschmid, n.d.). Consumers often prefer that the brand is ready when they are and in sync with their specific demands. Once marketers have established an excellent reputation for a product, then, innovations become just a public relations tactic in a bid to net more consumers. The reputation built with the product will ultimately sell to customers way before the new product enters the market. For instance marketers for Apple inc. have heavily relied on this strategy when introducing new products to the market. Since the company has already gained the confidence of consumers due to their exemplary innovativeness and product quality, any new product added to the line gains enormous success. In fact, consumers are always waiting for a new product to show in the market. Timing is, however, a sensitive factor in innovation. Different products have varied times that relate to the period that new brands are introduced. Marketers must often respond to the introduction of new products by competitors and avoid introducing new brands randomly.
Further, other new aspects of contemporary branding have been analyzed, such as the perception that consumers hold towards promotional offers and the role that categorization of products plays in marketing (Worm, 2012). Nonetheless, advertising unravels the interesting relationship between wholesale and industrial brands and the benefit that both parties seek to draw from such an association. This provides indirect benefit on the part of the wholesaler, enabling them to gain significant strides in any market. Another crucial factor that determines success in branding is the product line: the broader the choice of industrial brands displayed on the same line, the better the chance for the success of a well-marketed brand. Consumers love variety. The choice of marketers to advertise different products effectively captures many clients. Naturally, consumer dynamics dictates that people often prefer to choose products from a wide variety of the same product. Therefore, advertising different products on the same line enable a marketer gain the due advantage among competitors.
Establishing a brand that is easy to relate to has recently transformed the way marketers brand their products. Besides the fact that a brand is more powerful when it keeps evolving, its value propositions need to strengthen effectively and align with the ever-changing lifestyle demands of the consumers (Miletsky and Smith, 2009). Moreover, making a brand simple is a crucial step in winning the loyalty of consumers. Clients often do not have time to explore complexities of a brand (Ottman, 2011). This is because most clients often prefer that the brand in the market is in line with their identity. People are naturally biased to pick products that they are familiar with or those that they have prior experience. It is, therefore, easy to manipulate a traditional brand in trying to bring a new one into the market instead of introducing something that is totally peculiar to consumers. Contemporary marketers have heavily exploited this strategy when introducing new products to new markets. For instance, a marketer will easily use an old logo and name on a new product (Williams, 2005). After understanding their consumer dynamics and preferences, they gradually change the logo and the motto, ultimately introducing their intended new brand that is different in all aspects. Human beings naturally hold a bias for something they have encountered before. Consumer preferences towards different products are no different. People will automatically go for the products they are likely to relate with, either because they have used them before or because the products relate to their lifestyle designs. It is only wise that marketers take advantage of this during the design of brands or introduction of new brands to the market.
Contemporary marketing needs a strong conceptual and operational integration between category management and wholesale brand, since increasing in wholesale brand value requires a more precise comprehension of the demand in its different segments, a better selection of the description categories and a more efficient pre-selection of them (Project et al., 2015). To achieve the objective of creating strong and solid relations of trust between a brand and consumers, the integration between category management and wholesale brand can be stabilized even through innovative solutions of merchandising in the wholesalers and through coherence in the communication process
Wholesalers in the branding business must seek to strike a balance between promoting the brands without hurting profits. This is only possible through a careful analysis of branding versus the economies of profit making explored above. Branding and pricing go hand in hand in the consumer perspective. Often, customers view a brand depending on the price tagged on it (Randall, 1997). However, this does not mean that consumers will always go for cheaper brands (Sarma and Singh, n.d.). In fact, in a few instances, customers have constantly shown the preference for commodities and services that are priced higher. For instance, consumers who buy Apple.inc products often prefer the products despite the fact that other products with the same features have cheaper prices on the same line. The complex interaction between prices and consumers’ preferences is what guides marketers into establishing what range to use in pricing. Prices that are too high might scare away possible clients while those that are too low might trigger stereotypes among consumers who think such products are counterfeit.
In conclusion, wholesale branding is a complex yet crucial concept in business. Marketers are constantly seeking contemporary wholesale branding has been always perceived to have taken marketing by storm. In fact, wholesale brands have been highlighted as emerging to be an indirect competition with industrial brands. This significantly highlights the extent to which wholesale branding has been transformed to the extent that it has come to influence essential product activities such as pricing and supply. Wholesalers have majorly relied on customer attitudes in attempting to shape their strategies in the branding of their products. Importantly, marketers have relied on extensive research on consumer characteristics in their bid to thrive in a field that is ever-changing regarding consumer patterns. Market trends are ever changing and so should be branding techniques that wholesalers apply today (Solomon, 2003). The strategy chosen will, however, rely heavily both on the market type and product. Marketers seem to have found a perfect balance between the two in their bid to take over the wholesale of leading products in the market (Stec, 2015).
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