Today’s marketplace is highly cluttered. For any product or service there are innumerable options available. Customers are spoiled for choices. Every day, hundreds or thousands of brand messages hit a customer’s mind, seeking her attention. This all clutter has created a lot of confusion in the customer’s mind.
- In the middle of the clutter of products with similar quality and benefits, branding helps a customer find the right product for her taste and needs.
- The unique benefits and value that a brand promises distinctly separate one brand from the other brands in the customer’s mind, making it easier for her to make a choice.
- Branding contributes to building a bond between the customer and the product or service. In the long term, this helps in creating a huge loyal customer base.
- Branding enables a customer make comparative analysis of the products on offer, reducing the risk of making a wrong choice.
- With the right branding efforts, brands can leverage their popularity in one geography and tap newer markets across geographical boundaries in today’s globalized markets, where communication is already global and instantly available.
- Branding makes it possible for the company to position its products or services at the right place in the market and earn the right price for its products or services.
- New customers are entering the market due to natural, life stage changes. Branding makes it easier to communicate the benefits and value of our product to these new customers.
- Branding motivates a company to build its portfolio of products, each new one getting a benefit of the reputation of the old ones.
(Expert advice to GROW your business wherever you are, whenever you want.
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