Good-Guy
VIP Contributor
Marketing and product branding is one of the most important aspect of product promotion and sales. If a brand fails to market their product in tbne right way, they always have trouble making sales. product sales is dependent upon many factors. Unfortunately, there are many big mistakes that are made by man big brands that might lead to a huge decline in the market of a company or product. So here are the common mistakes many companies make:-
1) No Longer Promoting Products
This is a really huge mistake made by a company or bigger brands. When they feel like their brand has gained much popularity, they often stop advertising their products because they think that since their brand is very well-known, they no longer need to promote it.
2) Depending Too Much On Branding
There are many companies that become famous and they think that market will simply follow the flow and many customers will come to those brands automatically. After all a brand is a brand, right? Well, this is a clearly wrong perception. One such example is Nokia. Nokia was a popular brand, but they are no longer popular.
3) Not Staying Updated With Latest Trends
This is also a big mistake. Many companies simply follow the same old thoughts and outdated market trends and never stay updated or upgrade their product. As a result of that, their product demand declines. There are many examples of that. As I mentioned earlier, Nokia never upgraded their operating system and never promoted Android. As a result of that, market stopped purchasing Nokia phones.
1) No Longer Promoting Products
This is a really huge mistake made by a company or bigger brands. When they feel like their brand has gained much popularity, they often stop advertising their products because they think that since their brand is very well-known, they no longer need to promote it.
2) Depending Too Much On Branding
There are many companies that become famous and they think that market will simply follow the flow and many customers will come to those brands automatically. After all a brand is a brand, right? Well, this is a clearly wrong perception. One such example is Nokia. Nokia was a popular brand, but they are no longer popular.
3) Not Staying Updated With Latest Trends
This is also a big mistake. Many companies simply follow the same old thoughts and outdated market trends and never stay updated or upgrade their product. As a result of that, their product demand declines. There are many examples of that. As I mentioned earlier, Nokia never upgraded their operating system and never promoted Android. As a result of that, market stopped purchasing Nokia phones.