What exactly is a brand?
The short answer is: everything.
Strong brands can impact organizations across a variety of fronts:
1. Branding Improves recognition
Logo becomes “face” of the Company.
Jingle/Music Becomes the “Voice”.
Tagline Becomes the “Vision”.
Website Becomes the “Address”.
2. Branding Creates Trust
Just answer one thing which mobile would you prefer top buy Honor 4X – 10000 with 2GB RAM, extendable memory, Dual Camera… or Samsung A7 without even knowing its features. Ofcourse Samsung then whatever model it is, Why?
Because its a trusted brand, with hundreds of dealers, thousands of service centers, ten thousands of representatives to help around and Lakhs of customers.
3. Branding Builds Financial Value.
Brand Trust —> number of Customers —> Financial Value of Brand
4. Branding inspires Employees.
a feel good factor works for a person associated with the Branded Company. He is always excited about his work, so his work efficiency increases which is also good for company progress. Employees are the brand ambassadors which also increase his social value.
5. Branding inspires/generates New Customers.
They attract new customers
They help block new competitors, as loyal customers are less likely to switch to new or different brands
They help protect a business during economic downturns
They create a bigger footprint to enable expansion into new markets
Realizing such benefits takes a brand building strategy that is built around trust, recognition and a positive image.