Branding of a product is critical for any market. It is vital to consider a common name for goods and items such as computers and video games. Companies like Dell and HP have continuously developed new machines and products which are widely consumed globally due to branding. Shih also came up with similar products and managed to get better reviews and sales from consumers upon branding the products. However, in the year 2013, the company had the best selling strategies based on experts and users’ opinions. Thus, it is evident that product information is crucial in sales and marketing. The users must know and process any information linked to a product. It is due to this that companies like HTC, Hyundai, and Euro-Pro have all penetrated the digital markets and still competes with brands like Nokia and Samsung that have been in the market for a longer time. Therefore, reviews from users are essential for manufacturers since they guide a company on a consumer’s preferences both currently and for future business. Sites such as Facebook and generated online surveys have contributed to the availability of customers feedbacks.
The Role of Beliefs in Purchase Decisions
While considering purchase decisions, it is necessary to examine consumers’ beliefs, preferences, and experiences. The three ideas can be presented and measured by the level of client feedback. The marketers and contributions from other individuals and services also play a significant role in product consumption which makes up influence mix. Contributions from other persons and services have currently dominated. A good example is whereby habitual buying is dominated by experiences and beliefs while a person that is buying toothpaste may be influenced by packaging or branding which is equated to the contributions from other individuals and services that the toothpaste brand offers. When considering consumption rates, it is important to consider preferences for most of the consumers in the past. However, there may be lower returns for a particular product whenever consumers’ decisions rely more on the services and other individuals’ opinions. Product may be reviewed with fewer preferences but upon using it, the product may gain dominance over the rest of similar items in the market. Since numerous issues influence the market mix, resources should be redirected to coding, quantification of ideas and reviews, social media, and user forums.
What Is Product Segmentation?
Product segmentation is another factor that should be considered while strategizing on selling a product. Different segments support varied products. For example, more online shoppers prefer buying cosmetics other than clothes. Alternatively, the sale of briquettes may not be at a similar rate in Australia as compared to South America. In case there is competition, it is advisable for a company to diversify and develop an alternative product with unique advantages. Clients can compromise buying a more expensive product like a camera worth $ 259 as compared to a camera worth $ 169. The sale could be attributed to sales reviews and thus, the importance of reviews.
Sites such as Amazon have contributed immensely to online sales. Clients visit the site frequently to see the traditional perception regarding a product. Research on markets is also critical for the success of a specific product. Communication through channels like advertisement is crucial as the process helps to communicate the uses and advantages of using a certain product. Thus, the success of sales can be linked to tracking reviews from the consumers regularly. Through such efforts, it is possible to combine the best strategies and channels that can be used in luring consumers to buy a certain product.
Rosen, I. S. (2009). What Marketers Misunderstand About Online Reviews. Harvard Business Review, 23-35.
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