Why is branding so important for a business

    Why is branding so important for a business

  • 1 People Pay more for branded items

    People were found to be willing to pay more for branded items even if a similar cheap alternative was present (See why people buy branded clothes).

  • 2 People trust known brands

    People find it much easier to trust products of known brands than products that aren't strongly branded. This higher trust usually leads to higher sales (See why we like familiarity).

  • 3 Conveys your marketing message to your customers

    Branding tells the full story of a product or a business in fractions of a second. As soon as a customer sees the brand Logo he will remember everything related to that brand.

  • 4 Branding tells customers what to expect from the product

    A brand is the promise a certain product or a company makes. When a person sees a brand he remembers the promise that was made and if it was convincing enough he might buy that product.

  • 5 Increases business value

    A strong brand increases the value of the business. When a business is acquired very large amount of money can be paid for the brand if it was powerful.

  • 6 Brands promote loyality

    People usually become loyal to the brands they know and trust. When a brand establishes itself well it can create brand loyalty which in turn leads to increased sales.

  • 7 Brands outlive product cycles

    Even when the product cycle ends a company that has a powerful brand can create a new product and use its existing brand to market it. The new product will very likely be helped by the brand the company created.

  • 8 Brand determine the way people see your products

    A brand is the way a customer thinks of a product. Powerful branding can determine how customers see a product. Proper branding leads to a strong product image which leads to more sales.

  • 9 Helps people remember the product

    People's attention span has been greatly reduced in the past few years. Without a strong brand a product will easily be forgotten. When people see a strong brand they will quickly recognize the product without needing to give too much attention.

  • 10 Because there is too much competition

    The number of available products and businesses are increasing exponentially. Without proper branding it might be very hard for a customer to notice a new product or service. Branding keeps the product distinct from competition and helps it stand out.

  • 11 Customers prefer familiar products

    Customers prefer to buy products that they are familiar with compared to the ones they know nothing about. A strong brand helps the customer becomes familiar with the product and so can increase sales.

  • 12 Strong brands have emotional effects on customers

    Customers react emotionally to strong brands. The emotional arousal people experience when they see a brand they like can help increase sales and loyalty.