Marketing Branding Positioning

Marketing Branding Positioning

Introduction

Global and domestic marketing and branding, as a matter of fact, have different features which need to be addressed in devising any successful strategy. Spice and beverage products involve extensive consumer taste preferences, and these preferences are different in domestic and international markets, hence, for a successful strategy, these preferences must be kept in mind.

Pricing depends on the quality of the product as well as the target market, both of them needs proper weight. A successful marketing strategy follows pricing strategy since it involves the target market and product justification. Moreover, pricing strategy should complement branding strategy in a sense that both of them should cater similar target market.

Spice and beverage products are consumed by masses; the distribution strategy should be designed in accordance with the nature of the product so that it can reach consumers. Spice and food industry often use push as well as pull strategies in order to penetrate in the market as much as possible. Hence, the marketing and branding of spice and beverage products needs to keep in mind the individual attributes attached with both of these markets in order to become successful.

Global and Domestic Branding

In order to have success in the global market, there are different factors that need to be addressed including comparative advantage, demographic conditions, competition, economic trends, law and order situation, and governmental regulations. As a matter of fact, global branding strategy primarily consists of using the similar brand logo worldwide. The global branding of spice and food products, needs to address the taste related issues of target consumers worldwide, and exposing them to advertising globally. Branding of a product require standardization in product perception globally, this means that brand image of the product would not change no matter whatever the environment is. For food and beverage industry, the quality is the main issue; hence the quality standards also direct the image of the product. In order to make this happen, it should be ensured that the quality criteria should cater the local needs of the target market (Kilambi, 2013).

Domestic branding is not complex if compared to global branding, which involves different culture, preferences, and taste related issues. However, domestic branding does have competitors whose product offering might create an obstacle for a product to flourish. The brand must have some unique feature to sideline the competitors as well as offer the benefits which other cannot do. In the case of spice and beverage products, the uniqueness can be related to the taste, which ultimately creates a unique proposition of brand and also associate it with brand perception.

Pricing Strategy

The pricing strategy primarily depends on the target market. Spice and beverage products are consumed by all age groups since their nature of usability. In that case, the optimum pricing strategy would be market penetration. The central idea behind using the market penetration is that it caters masses and helps to build more penetration by targeting a wide range of consumers. As a matter of fact, there are many ...