When we talk about brand, there are many relevant concepts that jumps out, particularly, brand awareness.
What is it? Well, it is brand awareness that makes your products stand out and promotes your products-related commodities, such as T-shirts. Once your brand takes root in consumers’ minds, it can invisibly help you to broaden your company’s revenue streams.
Let’s say, a sports company has a really good reputation; they plan to produce some awesome energetic drink. On every bottle, there will be their famous logo. Since they already own a strong brand, how can customers not give it a try? In this case, how can brand not be deemed as a competitive advantage? Realistic examples, in the soft drink industry, the brands Pepsi and Coca Cola, sell their featured derivatives well, thanks to customers’ loyalty to their logos.
Briefly, the value of a brand is invisible when internally generated, but is revealed when another company wishes to acquire it.This means the value of a brand can be estimated and may appear on the balance sheet. In a word, brand has intangible value that can be transferred into tangible profits. Therefore, logo matters!
Linked with Teddy’s blog:
https://blogs.ubc.ca/teddybusinessblog/2014/10/05/the-power-of-branding/
Sources:
http://www.quickmba.com/strategy/swot/
http://search.proquest.com.ezproxy.library.ubc.ca/docview/1034345684
http://www.quickmba.com/strategy/pest/
http://www.investopedia.com/terms/b/brand-recognition.asp
http://www.investopedia.com/terms/b/brandawareness.asp
http://www.investopedia.com/terms/b/brandequity.asp
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