Explain,why is branding important?

Marketing plays an essential role in managing and growing a firm. To gain an in-depth perspective on marketing as it relates to entrepreneurship, Write a 1,400- to 1,750-word paper addressing marketing and branding a heath care related product or service. Select an existing health care related product or service and include the following in your paper:

  • Target Market
    • What is a target market?
    • What is the target market of the product or service selected?
    • What is the importance of selecting a target market?
    • What issues and questions must be considered when selecting and managing a target market?
  • Branding
    • What is a brand?
    • Why is branding important?
    • After selecting a current, common health care brand, address the following:
      • What images or thoughts do you relate to that brand?
      • Does the branding appeal to the market? Do those images influence consumers’ decisions to buy or use that brand?
      • Is the product successful?
      • What is the profitability of the product and what is the effect on the bottom line?
      • If this were your product or service, what might you do differently?

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