I totally dislike the word Punishment. It has such dark and serious connotations and for a child it can be quite overwhelming when they hear there will be punishment for bad actions. How about saying there will be some consequences for poor behaviour.

A child needs to understand how their poor behaviour hurts others before they will understand their consequence. — Does your child know what they did wrong and who was hurt as a result of poor behaviour?

When a child receives affirmation and positive consequences for a job well done, it is logical that when behaviours are negative, some form of negative consequences can be given.

Here are some important aspects of dealing with problem behaviour that should be understood when managing negative behaviour with children.

Always be clear in articulating what the problem was, as often children are not sure why they are being given consequences. Sometimes an emotionally charged child will not hear what you have to say, so repeating is sometimes important.
Remember that you are upset about the poor behaviour and not the child. It is a fact that children can think that you don’t like them, when in fact it is the behaviour you do not like.
Response to poor behaviour should be as immediate as possible. The waiting game for consequences loses its value and can be upsetting unnecessarily for the child.
Be consistent. If you give a consequence, then follow it through. A child can be very confused and anxious if you plan consequences but don’t follow through.
Always affirm the child after the consequences.

‘I appreciate how quickly you cleaned your room after you were told. I love how responsible you can be when we need to deal with matters.’

Small consequences can be highly effective and deal with the matter quickly. If you find that you are giving far too many consequences it might be time for a rethink as to what is going wrong. Perhaps a good time for some active listening with your child to hear their concerns.
Only use consequences that are reasonable and proportional to the poor behaviour. Sometimes a child is not actually aware that the behaviour is poor and you may need to talk to them about what upset you.
Children are more inclined to accept the consequences of their actions if they understand what they did was wrong and especially if they understand who was hurt as a result. Never presume they have the full wisdom behind their actions and they need your support in explaining why it was wrong and who is affected.
Watch the tone of your voice when giving consequences. Remain calm and stable with a voice that is not too loud or intimidating. Such reactive behaviour is all about exerting power over the child which ultimately fails as a parenting tool.

As the main role model for the developing child, what you teach them about appropriate and inappropriate behaviour will very much reflect your values. Therefore, you have a major role in teaching and modelling positive behaviour which has such an impact on your child.

‘Children need love especially when they do not deserve it.’
-Harold Hubert