Branding is one of the most important aspects in selling. Effective branding goes a long way in making a product successful. Though branding requires patience, marketing effort and time, a strong brand eventually influences the choices that consumers make when buying. A well-defined brand distinguishes a seller’s goods or service from other sellers’ products.
The public easily recognizes a well-branded product. A brand represents how the world sees you and the image and feelings your name or logo conjure. Once you come up with a brand and market it, people learn to associate the name with the product itself without need for much explanation. For instance, when the name of a well-known drink is mentioned, consumers easily recognize it as a soft drink or an alcoholic drink without this information having to be repeated in every advertisement. The brand sells the product.
Brands have logos, symbols or slogans that make them familiar to consumers. A brand influences the style of advertising. For instance, a product that has “electro” on its brand name implies that the product deals with electrical matters. Consequently, any advertising of the product portrays this aspect, making it consistent. A clear and consistent message gives your company a personality and credibility in the marketplace.
A brand that penetrates the market wins itself a market share. The more a brand gains popularity, the more stable its position in the market becomes. A well-known brand is a force to reckon with and makes it hard for other brands in the same field to penetrate the market. Investing in making a brand known through marketing will keep you ahead of competition and ensure that you maintain your position in the market. A respected and reputable brand wins loyal customers and reaps rewards from the advantage of having a steady stream of customers.
A well-known brand eventually benefits by saving on advertising costs. Since a brand is already recognized, you save time that you would otherwise use in familiarizing the public with the product. You get the opportunity to use more time and advertising space to communicate other messages. At the outset, you may have to invest more in making people aware of your brand, but the effort is worth it. Branding also has the advantage of enabling consumers to advertise by word of mouth. It is easier for a person to recommend a branded product to a friend over non-branded or unrecognized brands.
Authored by Diana Wicks.