When we talk about strategy of a mobile phone, it is very important for a marketer to know about brand strategy and

pricing strategy. Pricing Strategy: Price in the market is the only P which actually generates revenue. his means that if we look at the product promotion and place these three things have one thing in common that is they cost money. !t costs money to develop a product, it costs money to create advertising to create sales materials to conduct campaigns, costs for sales people to sell it and if any promotional planning is being done then that would involve more cost when talked about place, it involves money too, that is where housing moving a product from one place to another in order to get it to consumer. here are times where in the marketers have to pay huge amount of money to the retailers in order to showcase their product pricing however is directly connected to revenue even if there is a sales promotion, that price discount goes into e"pose category. P#!$!%&'#()(%*(. he money which has been brought for selling on offering is considered to be revenue. herefore it is very important to price a product correctly to meet the marketing ob+ectives. ,s it is a very comple" process. Some -f he .arketing -b+ectives /ased on Pricing ,re: When we talk about any start up companies then we see their ob+ective is very simple. hey define their ob+ectives in such a way that they simply want to stay in business. !t is very simple but not an easy concept. So the pricing is created in order to cover the variable costs and sum of the fi"ed costs in order to stay in the business from the point of making a profit. he prices are kept fairly low, the pricing should not be too low that it falls under the below pricing category. he pricing should be a little low than that of the competitors. herefore it is very important for any start ups to first know about the prices which their competitors are offering because this protects from devaluing the offering and it should not be higher to the competitors as it does not build a name and to survive in an industry pricing should always start with lower beginnings. his is the strategy often which a start up uses. , profit ob+ective is typically considered when we price the product marketers choose a price which can generate ma"imum profit we can see this in retail that is setting up the target return. hat means there is 0 amount of money and the marketers want to generate profit out of the product by effectively selling it. ("ample: !f 0 amount of money costed for manufacturing of a particular product then the marketers add 123 to the 0 amount in order to get the target return on that particular product. his keeps the prices in line and costs inline in such a way that margin is created where in profit can be e"pected this way the business outcomes. ,nother way of looking for pricing is pricing for value. his is when the marketers use pricing to increase sales value is applied in mobile phones then we could say that the marketers may start with a lower margin, which means the prices are less, with this the marketers know that they are going to make less profits. 4owever, they know that they can increase their sales value with their pricing strategy. Since they sell more they make

more. his is one way to e"ist in the business is to create a high obstacle for the competitors. ,nother ob+ective is product 56uality as it makes the difference in this case there are marketers who charge eminently a higher price which means that they do not compromise on a product and the outcome of product is made with good 5uality. ("ample: ,pple products. ,pple believes that their products up brand and the consumers who are brand lovers are going to pay. herefore we do not use any discounted price when we buy an ,pple product as they want to maintain an image of 5uality and e"clusively. he consumers are willing to pay more money for the same. The Four Profit Pricing Strategies: his contributes economy, premium. Penetration and skimming economy pricing defines about the low price and low 5uality. !ts cheep stuff so there are few set of consumers who buy a bulk of these low products and do not worry much even if it breaks as the price was low and they knew the 5uality was low as well. !t can be said as low price, low 5uality and high volume. Premium pricing will have high pricing for high 5uality of product. ,pple can be again 5uoted as an e"ample as ,pples ob+ective is only to gain more profits irrespective of high price as they want to maintain its image and a brand for itself. Penetration is included in high 5uality and low price and here when its said low price. !t does not always means to be at a lower price, it means if the manufacturer has a good 5uality and the price is low of that particular product then it means that the marketer is creating a value itself first. he marketer here is aware that he is selling enough to penetrate into the market so that more number of consumers falls under its kitty. ("ample: Samsung can be well 5uoted as an e"ample because it has a brand name which manufactured huge verities of product and initially sold then at a cheaper rate in order to sustain and penetrate in to the market. he ne"t pricing strategy is skimming. Skimming is a pricing ob+ective it says low 5uality and high price in an innovate company a product has been manufactured for the first time. ("ample: , digital phone came out then no other marketer or competitor has anything like it. he digital phone comes out of a much higher price than it is today. ,s the manufacturer of that particular digital phone knows that it would take some time for its competitors to develop a similar product of that kind and to figure out their technology and start selling out so at Skimming stage the marketers try to make as much of profits as it can, because they are well aware that at some point of time the profit margin is going to decline as the competitors are going to catch up. herefore the Skimming strategy is often observed in electronics especially in mobile phone industry. ,part from their pricing strategies, there are few alternate pricing strategies as well. hese alternate strategies go hand in hand. he first alternate pricing strategy is the promotional strategy, which is a short term. ("ample: Sales related to any product. hen there is a geographical pricing strategy which says that there is a variation in demand e"ternal factors which creates a value in terms of alternate pricing. his is not same as that of sales promoting things like recession or increase in competition can cause a value menu. ,s there are consumers who do not want to spend on the entire product but +ust want a part of that particular product. hus through this value the marketers continue to sell the products with huge

volumes. his is a long term thing for the manufacturers for people to buy more number of products. herefore it is very important for a marketer to know how much money it takes for manufacturing a product, how well a marketer controls the cost will have an impact on the price. Branding Strategies: 7ust like people brand too has a voice, the tone, personality and manner of communication it distinguishes one brand from the another. , brand voice is successful tool for the marketers in order to manage their uni5ue personality of their brands all the time. o en+oy a competitive advantage, brands must overcome three essential hurdles. herefore, the three hurdles for brands are. /rand must be heard /rand must be recogni8ed /rand must ne remembered When we discuss about a brand, two ma+or things comes in our minds. hat is what does branding do a business and what branding do a business and what branding does for customer. With these two simple things, a marketer can be successful and finally get a brand for its company as well. a) What Branding Does for a Business? 9ew products with its leading branding are always seen profitable as the marketers have its successful communication tool created awareness of that particular product either by promoting, advertising or campaigning. hus, branding of a product generated more number of sales which resulted in more profits to the business, ,s the branding is completed the marketers spend less time marketing on a product and fre5uently charge more for the products. -nce a product is recogni8ed as branded the customers not mind spending huge amount on the same. ("ample: ,pple products. herefore the power of brand which is created by the marketers tends to last a while. b) What Branding Does for Customers? !t:s a known fact that customers rely on few of the brands and therefore these successful brands make huge profits. , good brand always promises its consumers about their e"pectations and also makes sure that there feedback and reviews are addressed. hus customers are willing to pay huge amount of money on these branded products. , branding helps customers in two ways. !dentification and ;ifferentiation. !t is easy for the customers to shop if they identify the products and their features and increases the product. , brand also differentiates between the market offerings. !t help consumers to compare the market offerings and differentiate the characteristics of a product. herefore consumers can make a good amount of purchases and be satisfied with the brand identification and differentiation.

Designing a Brand Strategy: /rand strategy is a key for successful functioning of any business. herefore brand delivers the business goals for any marketer. he four step process can be used in order to appropriately deliver the best in the market. Step 1: !dentification of &oals o Which a /rand $an ,ddress: /usiness goals should have to be achieved in order to enhance the product value and apply the appropriate brand strategy. !dentification of goals should be understood as not all goals re5uires branding. , branding leads to effective marketing strategy. ,ny product which is developed and later trapped in a week position then branding of that particular product can resolve its difficulty. /randing is good to achieve only if the business has a long term goals. 9or marketers and business with a short term goal nothing can be achieved. Step : !dentifying and .apping the ("isting /rand $ulture: 9or successful growth of any product, studying its previous history is very important. herefore to study the e"isting brand culture across the different components of a brand value is important. .apping of brand culture re5uires the evaluation of design concepts and market research of the particular product. ,fter studying the brand, the firms current strategy is known which shall either changed or improved for the benefit of marketers. Step!: $ompetative ,nalysis of the (nvironment to !dentify the /rand -pportunities: o create a competative bench mark is one of the important branding strategies to the marketers. , brand value re5uires benchmarking against the competative brands. !t is very important. 9or a marketer to have an eye on its e"isting competitor. /y doing so it increases and identifies the opportunities in the environment and creates an advantage of designing a brand strategy for them. ,ny new product release can provide the basic information of technology and significant opportunities to enhance its reputation, create more directions and improve the relationship. $onsumers have a very little e"perience on product and the technology used. So the competitors often become proficient at delivering the basic product values. Step": o ;esign the Strategy: 9or any e"isting and desired brand culture, a brand strategy helps in understanding the movement of e"isting brand followed. ,ny strategy should be documented so as the current brand culture is identified and enhances the opportunities so that the brand culture is more effective where it considers the environment shifts and also the competative benchmarking and outcomes with the desired brand culture. Branding and #thics: ,s we have seen the four important steps of branding its understood that branding its understood that branding could become the back bone for any organi8ation. /ut the

marketers shall have a thorough knowledge about the product which has been manufactured. .ost importantly a brand tells the right story of an organi8ation branding is one of the ma+or and an important tool in marketing era. herefore it comes with a huge responsibility to use branding ethically. here are few critics which were raised against branding. !n popular book by %aomi <lein:s no logo that branding is used in much insignificant manner, which ignores the issues of social welfare. here critics have a very long history and such criticism is 5uestion of power. ,nything whish is branded could create a considerable value which could be used in an e"ploitative manner.