Discuss about the Branding and Product Development Marketing.
It is widely acknowledged that the idea regarding the development and promotion of new products fundamentally bears the key to survival and growth of a vast range of business organizations. As reflected by Picard (2014), development of new products and ensuring their promotion in the right manner often provide significant opportunities to the organizations. Based on this particular information, it is crucial for the marketing approaches to build a sustainable relationship between the product development phase and strategies adopted by the firm. The particular fact should need to be clearly embedded in the new product planning process devised by the companies by ensuring the alignment with corporate purpose and scopes for setting the useful guidelines (Best, 2012).
Based on these critical concepts associated with branding and development of new products, this paper is intended to investigate the application of product development methodology involving the reality television shows of Australia. At the same time, the essay is focused on shedding light on the importance of branding in the products available at the supermarket for selling. The overall information is expected to enrich the knowledge of branding and product development process associated with marketing a newly innovated item.
Product Development Steps and their Relationship with the Product Development through Television Show
According to Dinnie (2015), developing a new product always require a professional approach to be undertaken by the marketers or entrepreneurs. Based on the investigation, product development refers to a particular method for developing a new product to be sold by the business or enterprise to a broad range of customer base (Fuller, 2016). The designing process holds a considerable amount of importance in the process of product development referring to the activities dedicated to improving the styles, feel, and look of the product. Alternatively, Khan, et al., (2013) saw development as the collective method signifying the useful application of various activities. The particular work has provided a clear indication of the key activities based on the identification of opportunities in the market, preparing the specific product for appealing to the recognized market, and ultimately tasting, modifying, and refining the particular product until its readiness to offer to the market (Klimchuk & Krasovec, 2013).
From the application of the case study, it is determined that the particular trend regarding the submission of reality television shows is already exhibited in the social context of Australia. The reality shows related to the cooking category is one of the highly is one of the most popular TV series receiving a major hype from the population (Picard, 2014). With the help of gathering a proper understanding related to the identified fact, Recipe to Riches, a television show was launched in the Australian viewers’ segment with the aim of demonstrating and promoting the home recipes defined by the contestants. From the analysis of the case study related to Recipe to Riches, the particular reality show encourages the players to devise a brand name for their individual products to bolster the formation of a consistent strategy insisting launch of the product in the target market. With reference to the work formed by Best (2012), the first step as part of the reality television show is primarily based on supporting the preparation of the home recipes by the participators for ensuring the mass production of items and selling them through the supermarket. In this case, the meaningful involvement of Woolworths with the particular reality show facilitates the achievement of such aim put forwarded by the entire arrangement. Television shows are always intended to capture the attention of a wide range of viewers driving the firms or individuals to shape up their activities for producing a mass quantity of products and selling them according to the swift rise of demand (Ruby, Pathak, & Aggarwal, 2014).
The second stage of product development is based on positioning the identified brand of the product by accumulating a substantial level of understanding related to the main competitors in the existing market (). Fuller (2016) has dictated through his marketing research that the marketing individuals must need to obtain in-depth knowledge about the current position of its brand within the market and the presence of fundamental brand names into the same market for deciding upon the steps required embracing in the preliminary juncture. The specific reality show involves the participation of mentors with each contestant for supporting them developing the required range of familiarity regarding the existing market and current condition of their brand presence.
Developing a brand name and providing foremost priority in the packaging process are often referred to as the fundamental components of advertising process (Khan, et al., 2013). Pickard (2014) has confirmed through his work that advertising method has its significant contribution to overall product development process, where the principal goal of the entire activities are based on capturing the high share of the target market and expanding the growth of revenues associated with new products. The third stage of product development introduced by Recipe to Riches is based on establishing the brand name and selecting the appropriate steps for ensuring suitable outcomes of product packaging. The ultimate stage associated with the reality show is nominating a winner by making a proper selection of winning product and developing it into a branded product by ensuring the availability of on the shelves of Woolworths for sales after the end of episode. Based on the investigation to the identified stage, it can be referred that branding is influenced by the offering justifiable recognition to the product to promote the development of a new product (Dinnie, 2015).
According to Klimchuk & Krasovec (2013), branding plays an integral part in the construction of business ideas and approaches. Due to such implication, large corporations use to spend hundreds of millions of dollars for constructing their brand image and positioning adequately in the target market. Some of the important reasons are outlined in the following section contributing the importance of branding in the phase of product development process associated with a supermarket (Hollensen 2015).
With the application of the reality show named Recipes to Riches, branding for each product was developed through the active inclusion of product development steps and procedures. Based on the collected understanding, the branding of each product screened at Woolworths was done by combining all three key areas, such as advertising, branding, and product development. In order to develop the brand, the respective position of each product was determined by the valuable assistance of experts through analysing the involvement and activities of existing market competitors (Keiser & Garner, 2012). Based on such understanding of the market, relevant marketing approach of the food items was developed for each product separately by the contestants for spawning a significance appeal to the 19.5 million Australians visiting the supermarkets on a weekly basis.
Conclusion
From the overall analysis, it is revealed that branding is an integral part of product development, which relies heavily on capabilities of techniques adopted in marketing and advertising division. The engagement of a reality show builds such platform for promoting the marketing and advertisement of a new brand of product due to its wide range of coverage (Cavusgil, et al., 2014). It is concluded that broadcasting media provides critical influence in the product growth and development in a target market, where the marketers should need to expand their focus to the broader demographic criteria.
References
Best, R. (2012). Market-based management. Pearson Higher Ed.
Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). International business. Pearson Australia.
Dinnie, K. (2015). Nation branding: concepts, issues, practice. Routledge.
Fuller, G. W. (2016). New food product development: from concept to marketplace. CRC Press.
Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.
Keiser, S. J., & Garner, M. B. (2012). Beyond design: The synergy of apparel product development. A&C Black.
Khan, R. S., Grigor, J., Winger, R., & Win, A. (2013). Functional food product development–Opportunities and challenges for food manufacturers. Trends in food science & technology, 30(1), 27-37.
Klimchuk, M. R., & Krasovec, S. A. (2013). Packaging design: Successful product branding from concept to shelf. John Wiley & Sons.
Picard, R. G. (Ed.). (2014). Media product portfolios: Issues in management of multiple products and services. Routledge.
Ruby, P. K., Pathak, S. M., & Aggarwal, D. (2014). Critical attributes of transdermal drug delivery system (TDDS)–a generic product development review. Drug development and industrial pharmacy, 40(11), 1421-1428.
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