You might have been familiar with some names when some essential products are mentioned. For example if it’s soft drinks what comes to your mind ultimately is Coca Cola. Likewise there are several brands that have occupied a main part of life. They have been so much closer than others. “Why so much importance for a brand rather than a product?”, you may had this question or still having this question. So let’s get a more clear understanding on brands.
Brands provide peace of mind. People by nature generally avoid risk and seek safety. If the brands they use consistently deliver a positive experience, consumes form an opinion that the brand is trustworthy, which gives them peace of mind when buying.
Brands create difference and save decision making time. Any grocery store has more product options than anyone can reasonably consider purchasing. What allows us to select one cola drink or energy drink brand over another? With minimum of thought make our product more desirable than comparable products. This is why brands are so important.
Brands add value. Why do consumers pay higher prices for brands compared to unbranded or generic products? Is it better quality, the look and feel, or is it the brand’s stature in society? It is probably a combination of each. Successfully branded products make more money for their companies by commanding premium prices as people have more interest on these branded items. People tend to chose the same items with same ingredients when they look more branded than the non – branded items.
Brands express who we are. What car do you drive? What smart phone do you own? What shoes do you wear? The brands we use make a statement about who we are. People become emotionally attached to the brands they use and view them as a part of their self-image. Whether it’s a good book, a great meal or good movie. We become brand advocates when we share positive brand experiences. Strong brands give consumers a reason to share their experiences.
Remember, a brand is an idea inside a consumer’s mind. Define yours.
Article Credits To Our Blogger: Keshari Koralege (Faculty of Science | 2nd Year Student)
