Write a note on ‘Labeling’ in product development
When product development reaches the point of marketing the developer needs to decide on what type of labeling is best for the newly developed product. A product could receive a Private Label which is a brand owned, developed, and sold exclusively by one retailer. There is also the choice of a Designer Label. If the product is good enough it might be picked up by a brand bearing the name of a famous designer or an up and coming designer. This label is usually connected with a well know company and that company has used exclusive materials, limited production, and higher price. Another choice is a Brand Name. This gives the customer an easily identifiable connection and credible history. Just imagine if Steve Jobs had named his company something other than Apple.
"Once the product-line architecture has been established and a new product is being developed, it is time for a company to think about how to successfully launch the product in its target market. This is the stage where an advertising or public relations agency can come into play, especially for small businesses without the internal resources to handle such a job themselves"
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