Branding and it's importance
Definition of Branding:-The American Marketing Association (AMA) defines a brand as
a "name, term, sign, symbol or design, or a combination of them intended
to identify the goods and services of one seller or group of sellers and to
differentiate them from those of other sellers".
The brand is a marketing technique that has the potential to elevate your business to the top. It is to help your customers to form a recognizable association
you.Link your business with a design, logo, slogan, and / or color and
observe the positive results.
Brands create a sense of familiarity. If
customers have seen your logo, insignia or name of the company, they
are more likely to continue to select your product or service. In addition, they are more likely to suggest them to others. Referrals through word of mouth can be an extremely powerful form of advertising.
A brand allows potential customers remember your business. People may hurt knowing your philosophy or reputation. However, if they can recognize your brand, chances are greater that they will do business with you. Branding creates memory in the minds of the public.
When the public remembers your brand themselves and others familiar with it, they will come back. Customers are more likely to remain loyal to your business and are likely to buy other products or services to you based on the original brand product with which they have had success.
People are willing to pay more for products or services they highly respect. This means that customers are likely to pass the cheapest prices with competitors if your brand has made a positive impression on them. If customers believe in your product, they will pay for it.
