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Branding Essay

Good Essays

Evaluate 6.1, Branding

Dennis McKeon

Southern New Hampshire University

Abstract

This document will discuss the marketing theorem: Successful brands are built on successful products.

I agree with the theorem that successful brands are built on successful products entirely for some product categories but partially for others. Products which meet a genuine customer need can become successful brands with minimal marketing effort by merely having a solid product that meets a need. Products which fulfill a desire must work on their branding in order to become successful …show more content…

4. Esteem needs can also be met by the company Facebook. This company allows me to advertise my educational and relationship achievements as part of their product.
5. Self-actualization needs are met by Google. The Google search engine allows me to solve problems, be creative and fulfill a spontaneous desire with its research tool.

Additional evidence of successful brands, being built on successful products and providing a valuable function can be seen when a company innovates, regardless of the industry. A recent example of a successful innovative product is the iPhone from Apple. Apple redefined what a phone or even a computer can be with this product. It is also one the most valuable companies in the world today in both dollars as measured y its stock price and brand equity as measured by the Millward Brown Company in 2012. (Hughes 2012) Apple continues its success of the iPhone and brand by introducing brand extension products like the iPad or iPad mini while avoiding brand dilution. Another product example is the drug Lipitor from the Pfizer Company. Lipitor provides a medical need for consumers with high cholesterol and provided Pfizer with $12.9 billion dollars of revenue in a peak year. (Loftus 2013)

Successful brands build successful products when the product is one that the consumer desires as opposed to needs. Companies selling these types of products must put additional effort into marketing activities like brand

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