The Power of Branding
Do you know the brand names of those clothes that are being sold in Walmart? What about Nikes, Adidas, Mcdonald, Subway, Louis Vuitton and Coca Cola? See? That is the power of branding.
A successful brand name or logo can directly and immediately give you image, reliability, quality and value propositions of the company.
In order to understand the power of branding more effectively and explicitly, we need to understand the importance of branding and some effects of branding on buying behaviour.
What helps you make the final decision when you hesitate between two similar items that have same price and functions? That’s the power of branding. The one that you purchase at the end of the story most likely has a better reputation, reliability and quality to you. Based on this point, customers are actually buying the value propositions of the brands when they purchase the products from the company. Consequentially, the company can stand out from the market and creates more profits.
Moreover, a successful company not only study the needs and wants of their targeting customers, but also they give them the best brand experiences, such as “sense, feel, think, act and relate” stated by researchers in a Columbia University research paper titled “Brand Experience: What is It? How Do We Measure It? And Does It Affect Loyalty?” That is how branding makes you keep coming back and asking for more.
Sources: http://smallbusiness.chron.com/effect-brand-consumer-behavior-61767.html
Image: http://www.omniguides.org/wp-content/uploads/2013/10/logos.png