Value proposition acts like a credo for the company’s product and should persuade them to choose that particular service or good so as to satisfy the customer’s needs by making a promising branding. Here are some propositions that are to be often considered while marketing:
Knowing the market trends: It gives a clear picture of what-else has to be done to be as a leading company in that particular segment of services and it does include realizing the taste of the people with the changing lifestyles. For example, people now-a-days are becoming so conscious of their health preferring only organic intakes. In such cases if so our product is related to health, diet or fitness, better to involve such things in the marketing strategies. Never always lower the commodity’s price so as to attract mass number of customers. These days customers are very much interested to spend on items in the name of “Branded items”. So either reducing the price or offering some discounts frequently on the services may leave an opinion that reduction in price is due to the reduction in demand.
Know our competitors and plan accordingly: If so you are a new entrepreneur, first get some clarity on your competitors and start branding accordingly with the marketing strategies of minimal amount. Unlike the well reputed companies, new startups can’t afford branding in the name of advertising using the well-known personalities. In such cases, technology plays a vital role in helping them to advance them into the people such as releasing relevant apps and having publicity via various social platforms.
Strategies to be implemented for a better branding: One’s need is the other’s profit. The strategies that give profits to the companies or the entrepreneurs should be smart enough to be promoted which include the things such as knowing the NECESSITY, RIGHT AND SMART INVESTMENT and OFFERING UNIQUE SERVICES. Never see for opportunities just grab the need .Grabbing necessity means half work is done to be successful in a business. It is well explained with an example: Dabbawalas. It started with a great thought of transporting food which is still in use although started long back. Much competition in the names of food junctions, canteens tried to yank the business but, it still did not lose its market. This is because; it followed the unique technique of delivering home food which can never be dominated by the roadside canteens or restaurants. It followed the very less capital strategy which in turn is gained after service.
Promoting the fame with some new ideas: To be a brand in the mouths of people, treat them special by asking them to give their feedbacks and by giving them the assurance of 24/7 availability. For the upcoming companies or new products/services, it is a new strategy to go into the people rather by using the same old formula of branding. Instead, do it in a reverse manner of attracting people by providing the techniques like giving sponsorship, internships. If so done using these, with no investment one can get better branding. Getting branding done with the mouth talk is a very good idea with little cost i.e. Maximum gain. In fact it would just cost the companies a certificate of excellence and it gifts them branding for free saving huge amounts of money on advertisings. Whereas for the students the same policy of branding themselves with free of cost helps better and it is done by writing blogs and articles etc and getting them public by posting in social media marketing yourselves in a unique and simpler way.