Business & Finance Advertising & sales & Marketing

The importance of branding a company

Branding is a fashionable word and with inevitable aspect to exploit and to sell in today's economy. In its simplest form, it is a brand name, often associated with a product, service or business. However, brand is much more intangible than a product or service itself. It is a set of emotion and perception revolving around quality, image, lifestyle, attitude and status. A brand is a complex personality after the coherence of a multitude of factors that have the goal of creating a perception in the minds of consumers.

This perception must tell the consumer that it has no product or service to market identical to yours. A brand is a reflection of a security, a benefit derived for the consumer. If you cannot convince customers that your product is worthy of purchase, no advertising campaign, packaging and public relations campaign will help you achieve your sales goals. Therefore, a successful brand starts with products and services of superior quality, backed by excellent customer service that is reflected throughout the organization.

One of the truths in the business world is that the products and services have a strong tendency to look like and what your competitors can replicate them in a very short time. If your idea is great, expect to be copied. And even worse, they probably would not be satisfied not only copy you but also improve and sell at a lower cost to win market share. In this context it is imperative to ask the question: What would be the competitive advantage to offer consumers and that competition could not reproduce?

The mark.

When products are similar is the image that makes all the difference. The brand creates value for both the consumer and for the company. So a consumer will join a brand rather than another is because he recognizes himself in the personality of the brand. The relationship between brand and consumer is based on personality as well as interpersonal relationships in the real world we feel sympathy with those whom we have an affinity which we would like to reflect. The mark is used to communicate who you are and connect to consumers by sending a specific message. "You know what I am."

The identity is so important psychologically in the minds of people. Create a strong brand identity is gaining notoriety in the minds of consumers and this is an invaluable competitive advantage. If you said the word hamburger you're probably thinking of Mc Donald and when you want to eat a sub, Subway is the brand that you instinctively come to mind. His associations are a direct result of a strong identity created by the company.

The brand helps support sales. With the arrival of the Internet in households and consumer portals it is easy for a consumer to make a choice between this or that product. There is only one click of the competitor. He does not need to rake the whole city to find what he seeks. A consumer confidence and reassurance in relation to the mark will probably lead to buy the product or service. If a first buying experience is positive, it probably will make a second purchase to see a third known brand.

This is called brand loyalty. Loyal customer is a great value for the company. It is very expensive for companies to get new customers compared to a loyal customer to the brand. The brand loyalty is the real value of the brand since a loyal customer provides an economic flow and economies of scale to the enterprise. Until the consumer is not disappointed he reoffends for purchase.

The brand reflects the personality of the company and it is this personality that the consumer identifies himself in his consumption behavior. The personality is reflected through the product and creates a perception of the consumer. A consumer buys according to his impressions and very little with the technical and functional characteristics of a product. The ultimate objectives of the brand are the brand loyalty and product differentiation in its market.

And you, what brand do you identify with and why?

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