Brand marketing is a technique for promoting your product or service as a whole. In essence, it emphasizes your entire brand while telling the tale of your service or product. Product marketing is a strategic marketing function that connects product management with marketing communications.
A product marketing manager’s major responsibilities include defining and sizing target audiences and value propositions. Positioning and sales enablement are two other crucial tasks.
Advantages of Brand Marketing
Never underestimate the value of familiarity with your customers. If a buyer identifies your brand through its packaging/colors/images of a brand they recognize, they are more likely to pick up that product over the sea of others that are surrounding it while shopping.
It’s appealing and well-known. Brand marketing is perfect for establishing a distinct position in a crowded market, especially when there are numerous competitors.
The company is frequently up against stiff competition from existing companies as well as new start-ups, all of whom are offering a similar product/service in the market, as well as a similar target audience/market.
You can, however, carve out a distinct identity in the market with the help of brand marketing, which highlights the product’s unique selling propositions and defining qualities.
Advantages of product marketing
Product marketing will focus on the product, its characteristics, and how they might affect the customer’s life, as well as how they differ from their competitors. Because the advertisement is for a specific product, you’ll be able to tell whether or not the target audience likes the product over time. It also draws in new clients, especially when a business introduces new products with new features. Finally, when it comes to targeting buyer personas, it aids in the creation of a successful plan.
There is no one-size-fits-all solution for determining what will work best for your company. It relies entirely on the business. The older a company is, the more likely it is to rely on brand awareness, especially if it has well-defined products or competition.
On the other side, product awareness is critical for start-ups. Some businesses, on the other hand, fall somewhere in the between. Some start-ups have products or services that already have a lot of competition in the market, so they must work hard to stand out.
Branding is just as important to them as product promotion. Also, to describe their new product, older organizations may need to focus on product marketing.