To invest for your own band or have private label, it’s important to be careful on your investment. Plan well and start out right. The 3 fundamental things you should know about your brand are:
1. Target Customer
Which group of customer you wanted to target? We have to specify as Gender, Age, Level of education or Level of income. These are the most general information. If you want to specific more to niche market should consider to Lifestyle, Preference, or Hobby. Generally, different target has different customer behavior, it will related to product function, price structure, channel of distribution, promotion (4P) that you have to plan for your brand.
2. Category of the product
What kind of product you wanted to do? You can go back to number 1 to check your target customer and analyze their lifestyle and behavior. For example, your target customer is Women/Men, age 13-18 years old, Acne skin. So, we make the skin care to treat the acne problem BUT as teenager we should consider the price to be affordable to teenager.
3. Where to sell?
We took the case from number 2 which taregting teenager. The behavior is buying the product via online channels, social media or cosmetics store or drug store in High school or University area.