The Importance of Branding a Company
What is a brand? When to Brand? What are the types of images and when to use "branding"? These are some questions that we answer in this article about branding and how one joins the build.
Branding is a fashionable word with inevitable aspects to exploit and sell in today's economy. In its simplest form, it is a brand name, often associated with a product, service, or business. However, the brand is much more intangible than a product or service itself it is a set of emotions and perceptions revolving around quality, image, lifestyle, attitude, and status. A brand is a complex personality after the coherence of a multitude of factors that have the goal of creating a perception in the minds of consumers.
This perception must tell the consumer that it has no product or service to market identically to yours. A brand is a reflection of security, a benefit derived for the consumer. If you can not convince customers that your product is worthy of purchase, no advertising campaign, packaging, and public relations campaign will help you achieve your sales goals. Therefore, a successful brand starts with products and services of superior quality, backed by excellent customer service that is reflected throughout the organization.
One of the truths in the business world is that the products and services have a strong tendency to look like what your competitors can replicate in a very short time. If your idea is great, expect to be copied. And even worse, they probably would not be satisfied not only copying you but also improving and selling at a lower cost to win market share. In this context, it is imperative to ask the question: Which competitive advantage could you offer consumers that your competitors couldn't duplicate?
When products are similar is the image that makes all the difference. The brand creates value for both the consumer and the company. So a consumer will join a brand rather than another because he recognizes himself in the personality of the brand. The relationship between the brand and consumer is based on personality as well as interpersonal relationships in the real world we feel sympathy with those with whom we have an affinity which we would like to reflect. The mark is used to communicate who you are and connect to consumers by sending a specific message. "You know what I am."
Identity is so important psychologically in the minds of people. Creating a strong brand identity is gaining notoriety in the consumer's minds, and it is an invaluable competitive advantage. If you said the word hamburger, you would probably think of McDonald and when you want to eat a sub, Subway is the brand that instinctively comes to mind. His associations are a direct result of a strong identity created by the company.
The brand helps support sales. With the arrival of the Internet in households and consumer portals, it is easy for a consumer to choose between this and that product. There is only one click of the competitor. He does not need to rake the whole city to find what he seeks. Consumer confidence and reassurance to the mark will probably lead to buying the product or service. If a first buying experience is positive, it probably will make a second purchase to see a third known brand.
This is called brand loyalty. A loyal customer is a great value for the company. It is very expensive for companies to get new customers compared to loyal customer brands. Brand loyalty is the real value of the brand since a loyal customer provides an economic flow and economies of scale to the enterprise. Until the consumer is not disappointed, he reoffends for purchase.
The brand reflects the personality of the company and this personality that the consumer identifies himself in his consumption behavior. The personality is reflected through the product and creates a perception of the consumer. A consumer buys according to his impressions and very little about the technical and functional characteristics of a product. The ultimate objectives of the brand are brand loyalty and product differentiation in its market.
And you, what brand do you identify with and why?