Branding Benefits
Memorability:
Material reminders reinforcing the identity of companies they will want to do repeat business with.
Loyalty:
When people have a positive experience with a memorable brand, they're more likely to buy that product or service again.
Familiarity:
Psychologists have shown that familiarity induces liking. Consequently, people who have never done business with you but have encountered your company identity time after time may become willing to recommend you even when they have no personal knowledge of your products or services.
Premium Image, Premium Price:
Branding can lift what you sell out of the realm of a commodity, so that instead of dealing with price shoppers you have buyers eager to pay more for your goods
Lower Marketing Expenses:
Building a brand is a huge undertaking, but once it's created you can maintain it without having to tell the whole story about the brand every time you market it
The Consumer's Feelings of Brand Confidence Equals Less Risk:
When someone feels under pressure to make a wise decision, he or she tends to choose the brand name supplier over the no name one. By building a brand, you fatten your bottom line |