A Substantial Brand and Customer’s Needs A brand refers to how people feel about a product, service or company. A reputable brand is a fulfilled promise to customers’ needs. The customers consider a substantial brand to be valuable. A brand represents the reputation of a company or product. It starts with the foundation of a company or the innovation of a product (Samuelson 4). A brand in any business is perceived as the most valuable asset. The two fundamental objectives of a brand include driving penetration of a product to gain a new market and encourage the current market to buy more.
A customer profile defines the customers’ wants, needs and expectations. An accurate customer profile must entail what a client needs and expects from a company and its products (Samuelson 7). This paper will write about “pocket fisherman” and decision making processes and reference groups that it targets. Pocket fisherman refers to a device used in fishing. In developing a brand for a pocket fisherman, the strategy team must identify who their target is in terms of age, gender and education.
This will help in developing an ideal pocket for the fishermen. The team has also to identify and decide on an ideal name for the pockets. The team should decide to come up with a name that is descriptive of the pockets. This will ease selling of the pockets. The team should decide on the image they want to create in the market. The team should analyze the current markets for the pockets and come up with ways of reaching new customers. They should decide on the packaging strategies (Samuelson 12).
They should decide an innovative strategy that will demonstrate how to break and beat the competition. This will help the team in creating new market for their fisherman pockets. In developing a customer profile for the pocket fisherman, the strategy team must decide to conduct a customer survey. The survey will assist the team in gathering information about the target market. The team needs to evaluate basic customer characteristics like age and education level. This will assist the team in coming up with an ideal fisherman’s pocket for the market.
The team should consider the customers’ beliefs and attitudes as it will affect their buying decision. The team should investigate what the customer expects in the fisherman’s pocket. The team should be in touch with the customers’ expectations. They should endeavor to remain informed about the customers wants (Samuelson 19-27). Samuel Popeil invented the Pocket fisherman in 1963. The gadget has undergone considerable improvements up to date. The gadget has sold more than two million pieces indicating a substantial percentage of the market share. A pocket fisherman consists of holds hooks, sinkers and small gear.
It can fit into small compartments and pocket. The pocket fisherman is a popular gadget to many due to its portability and uses. People despite their gender, age and academic level find the device to be useful. Ease of use and the convenient size has contributed the popularity of the gadget. In conclusion, the strategy team can use these points to come up with a pocket fisherman that will fit into the market (Samuelson 44). Work Cited Samuelson, Timothy. But Wait! There's More!
Italy: Rizzoli, 2002. Print.