If Product A & B are identical, what can be a reason that Product A sells 5x more than B successfully? I love button up short sleeve shirts, I usually buy them at $15-$30. I came across one I loved, but it costs a whopping $85...

Many people in consumerist countries buy on emotion. It isn't the same at the lower end of the market, so brands lose out massively in that space, but they aren't really too worried about it given the disposable income available elsewhere.

Branding involves understanding how your 'badge' makes your customers feel. There has to be a congruence between what they see and thus imagine. Oddly, this can also include what they can almost smell and taste! Even though those are not at any point defined in the brand strategy per se.

The first thing is to identify your market segment. In the example you gave, ask yourself what is it you do? How old are you? Do you have children? What sort of job do you do? Are you happy with it? How much do you make? What sort of house do you live in? What other things do you like? etc. etc. etc. these all form what is known as a 'customer persona'. You may even help yourself along by cutting out items from magazines which help visualise answer to those questions or even create and cut out a large cut-out of that archetype.

I do this a lot in different capacities, especially in IT and tech, since that is the market I revolve in most. I can definitely help with the strategy, but I'm going to say something quite odd. If you are thinking to, DO NOT contact me about manifesting it ;) As you can probably tell, there are two parts to this. The first is the strategy which I can do with my eyes closed. The second is the branding exercise, which involves the folk focussed on the emotional aspect of the process, even if they lack the strategic oversight or plan.

If I were you, I'd find someone who has both. The strategic 'cognition' and the emotional/EQ skill. That is the sort of person you need or you can find people that work well together and use them both.

Very best of luck!

Answered 6 years ago

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