INSIGHTS
Marketing 101 teaches the importance of the four P's: product, price, place and promotion. Several aspects, such as the company’s background and its target region and country, greatly determine its game plan for success.
Every thriving company understands the necessity of securing the correct positioning of its brand and products. “The right position will be determined by its success in the marketplace and success is determined by the ability to have a strong international presence, provide an extensive range of products and offer excellent service,” said Clemens Krebs, Head of International Marketing and Communications Management, Bosch Security Systems.
Meeting Client Expectations for Success
Date: 2011/05/16
Source: By Editorial Team
Consistent marketing will build brand recognition and market share over time. “Elements of the brand include the products, package, support, price, value, company and marketing sales channels,” said Martin Worndl, Senior VP of Product Development, Lorex. “Simply having a good product is not enough — customer support, warranty, availability and reliability contribute to a positive brand position.”
For some companies, repositioning requires them to rebuild themselves and their brand. “We have placed much emphasis on branding, with strategic marketing and a PR communications plan to build our positioning in all the markets we work in,” said Alan Hayes, MD of AMG Systems. “However, we changed our positioning five years ago — moving from exclusively focusing on digital fiber optic, to providing a full-range of different transmission technologies — in order to keep up to speed as new technologies have been introduced. Our brand has thus evolved to encompass total transmission solutions.”
Other companies, such as Sony and Samsung, already have strong name recognition as manufacturers through other business interests. “We are an electronic manufacturer whose business ventures span across business and professional products to movies, music, games and consumer electronic products,” Hirano said. “This gives us the unique strength of being able to share the latest innovations and technologies across all aspects of our business to ensure we leverage on our technological expertise as a whole — giving us a strong advantage. Through this we can uphold a strong position in the market, and thus gain loyalty and trust from customers.”
Having a trusted brand allowed Samsung to grow quickly within the electronic security market, Smith said. “We were able to enter the security market and grow as fast as we did within two and a half years partially because we were able to leverage the brand. However, it comes with big responsibilities and we must make sure our new products can uphold our reputation.”
A CEO's and company's background directly influences the brand and related solutions. “Having upper management be directly involved in all aspects of a product proved to be beneficial,” Hayes said. “I received a doctorate in engineering and this allowed me to understand and be involved in the R&D department, and to provide additional insight into the development of new products.”
Backgrounds also influence the company's priorities. “Our company was founded by a group of electronic and mechanical engineers,” Ku said. “Therefore, our focus is largely placed on R&D as our core competence and we maintain a large number of investments in product innovation. Our solid knowledge and experiences in the development of video codec technology, networking protocol and multimedia SoCs has given us good grounding as an electronic security manufacturer.” Sometimes it is about entering the market at the correct time. According to one source, the company began with no prior knowledge of the security industry. However, it knew there was a space in the market to be filled, and thus based development on the unfulfilled needs of customers.