Branding a health care product is the integral decision of the company and its policy. Creating a brand of a product is like adding an asset to the company which will generate revenue over the long term and will demand significant amount of investment time to time. Branding a health care product basically voices the existence of your product so that people who are in need of using that product can easily purchase it. This will help in improving the lifestyles and health of a lot of people as awareness will spread in the society about the presence of products that spread healthy life style.
If the product launched by the company is very reasonable in price and is a solution to some very common problem then the company should market that product and make it a brand. This will be beneficial to the company because such easy to use and products that are required for day to day usage generate profits in long run. However in branding a product serious marketing decisions are to be taken so as to make it a success. Initially a very suitable and appropriate brand name should be selected for the product that goes with the image of the product.
Some companies also relate some kind of visual representation with the product. This all should be done according to the nature if the product. The second step is to enhance the recognition; this refers to the fact that marketing campaigns should be conducted so that the people can easily relate the product to the brand and third is to build the personality over the long run which means that incremental improvements need to be done so that the brand keeps on generating revenue for the company.
the branding strategy can however take a negative turn if the three steps mentioned earlier will not be followed, which refers to the fact that if people cannot relate the product to the brand the entire investment on the decision of branding will go to waste and the company will suffer loss as the entire process will only add to the costs of the product.
Bashe, G. , & Hicks, N. (2001). Branding Health Services: Defining yourself in the marketplace. Marketing Health Services, 21(1), 42-43.Retrieved from Proquest Gapp, R. & Merilees, B. (2006, Sep. ). Important factors to consider when using internal branding as a management strategy: A healthcare case study. Journal of Brand Management, 14(1/2), 162-176. Retrieved from Proquest Greenawalt, B. J. (2001, Sep. ). Can branding curb burnout? Nursing Management, 32(9), 26-31. Retrieved from Proquest Pinkerton, S. (2002, Jan/Feb. ). Marketing and branding, Nursing Economics, 20(1), 42-43. Retrieved from Proquest —