The right kind of product branding can make or break a new product. When you are launching something new, you are already investing a great deal of money in the manufacture of the product and would ideally like to cut corners wherever possible, especially when there are budgetary constraints. Regardless of the budget, however, if your product does not sell, all your investment and efforts will be of no use. You need to find someone who can understand the importance of working within a budget while creating awesome product branding.
Why Product Branding is Important
Branding is important because it enables a consumer to identify a product, a company, and helps develop product loyalty. All these ensure that the consumer will be able to reach out for the product easily and repeatedly buy it. One of the main factors in a company’s profitability is constant and repeat sales, along with increased sales growth. A targeted and comprehensive brand strategy helps establish a brand and increase its perceived and real values. Different aspects of branding include:
- Logo
- Slogan
- Design
- Image
- Symbol
- Decoration
- Color
All these elements go into making the brand recognizable and help establish an emotional connection with the consumer. After using a product repeatedly, the buyer will be able to pick it out from the shelves automatically without having to read the fine details.
Product branding reflects the philosophy of the company and targets certain consumers according to demographics. Some branding factors may be common among different products so that the consumer can easily identify either the main category of products (food, health, beauty) or the company. While setting a budget for your branding exercise, do not forget that the product has to be inherently good and offer value to the consumer. There are many ways to do this branding on a budget – you can:
- Spend less on containers
- Buy cheaper labels
- Use single colors instead of too many
- Use a printing option that is cheaper
- Use recycled paper, cardboard, or plastic where possible
- Use minimal packaging
Product branding requires professional help and if you come to MJS Packaging we can work with you within your budget. At the same time we will not compromise on the brand value you want to project. With the right strategy, you can establish your brand and sell your products, increasing the profitability of your company and its products.
