When a manufacturer goes for a brand name, it helps him to be acknowledged among the others. Manufacturer brand helps the producer to get recognition in the market through his brand.
The manufacturer brand gives the market recognition to the producer. The people who are not aware about the product earlier would start recognising it through the brand, it will also help the producer to gain new customer base. If the producer has a good image in the market, then his product will also likely to get more acknowledgement. It can help in two ways, first is that the existing customer base would start recognising and recommending their product to others with the help of branding and, second is that new customers would get attracted towards the product by recognising the brand.
Pricing of the Product
Pricing is one of the most important aspect of any market or any product, without pricing we cannot judge a quality of product it somewhere helps to know the product more precisely.
Pricing determines your profit and also sometimes it helps customers to reach out to your product, like when the customers know what price you demand or offers for your product, they will likely to remember your product through the price. The extra penny earned is your profit. A lot of time you will see in the market that there are different prices been offering in the market, there is no same or fixed price. This is because producers price their product according to the recognition or image of their product in the market. It means, if the product is highly recognized in the market, then the producer may charge a high price because customer would buy according to its brand.
In any market at any place, the customer loyalty plays an important role in the manufacturer branding. We all know that market is constantly changing and is dynamic in nature, which in different ways can affect the loyalty of customers.
As the new products are being launched everyday with new features which may attract the customers loyalty. The new features may attract the customers interest, which may end up shifting customers preference towards them as customers only focus on what is more beneficial for them. In order to retain customers, the producer has to launch new products under the same brand with new and highly effective features, so that customers would stay with their brand.
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