Every marketing coin has two sides. One throws light on the brand whereas the other throws light on the product. Every company focuses on making its product superior to their competitors.
The role of perception- The perception is very strong and most important thing when you step into the market with the new product. If a person holds a strong perception of a particular brand then it is very difficult to change.
The role of timing- It is good to launch a brand before the competition does where the product scenario is different. It is good to delay the launch of a brand so that you get extra time to focus on your product.
It shows that the brand talks about the first mover advantage whereas the product talks about the fast mover advantage.
The role of difference- There are specific brands which get first mover advantage but for that, they have to perform differently. For eg: when we talk about leading computer operating system company – windows is leading the race as they have first mover advantage.
The role of believability- No matter how superior the product is. Once perception is set about the brand it is very difficult to change, as time passes the perceptions deepens in consumers’ minds, it becomes more and more difficult to make progress.
Flipkart launched its smartphone brand ‘billion’ and launched a product called ‘Capture+’ but it failed to take off due to the presence of strong player in the mobile phone market.
It’s the matter of perception as well as your performance in the market. This thing will fetch you the results where you’ll get to know whether you’re a market leader or market challenger.
