Branding – What makes it Important?
Branding is not a new concept but to implement it is even harder. It is something which gives you a recognition. Just like, “Apple” and the iPhone or a Mac will instantly pop-up in your mind, that’s the power of branding. A Brand is something that gives the product more recognition than the other ones. A product without any proper branding is just an ordinary product, vis-à-vis a product with good branding strategy creates customer loyalty, Brand equity & Brand value. You may wonder but the world’s top most valuable brand Amazon is valued at $315.5 Billion in 2019. That’s the result when you constantly work after improving the quality of product & services to your customers. Let’s see what makes it even more important.
Effective strategy is required to be implemented to get the good amount of recognition among the targeted customers. Like shoes of Nike brand actually meant to appeal athletes with the tag line “Just Do It”. Or just like the One Plus mobile phones with tagline “Never Settle” which shows their appeal to the masses to constantly upgrade with new technologies.
Brand always meant in a way to reflect the mission & vision of your business. For Example, the Tagline of Nokia. “Connecting People” & the joining hands symbol. It truly reflects what Nokia stands for. Brand is the thing which conveys the message the masses.
Brand creates value for the business. An effective branding policy will push the customers to buy your products. Just like Apple’s iPhone reflects the Richness & technological advancement. People use to show it that they are ahead of others, which actually drags them to buy Apple products.
4. Brand Loyalty
When you perfectly placed a marketing strategy, it helps you to connect with the feelings of people. For example, If Pepsi Co sponsors a Sports Team. The fans of that team will prefer to buy Pepsi as a soft-drink over any other brand of soft drink just because of the feelings of the fans are connected. Even though the competitors change their strategies, loyal customers still tends to buy only Pepsi.
As it offers you the credibility in the market as it helps you to emerge in any kind of saturated niche market. It eases the new product introduction in the market. Loyal customers will surely going to try the new products.