The Importance Of Branding

A place, product or a service can represent a brand. The key lies in trusting that place, product or service. As humans are rational and cannot complete every task themselves, they require service or others to fulfill their needs and desires. And for this dependency, each of us, the consumers, looks out in the market place for someone or something that we can trust. A consumer trusts them the most who values what is valued by the consumer and who is driven by what drives a consumer. If the product or service can be found, a consumer can trust them. While searching for this someone or something, a consumer is trying to search for an image that represents their own ideology or beliefs so that the consumer can relate to it more closely. When a …show more content…
Branding is the selection of these words, and symbols to reflect what a customer values the most. It empowers people in visualizing what a company is by the expression of company’s image. Branding does not define the greatness of any company, product or a service; branding is only a way to finding what the company finds great and then moving towards that goal. Branding is no more about selling stuff, it is how a company or a product relates more closely to the consumers. This is the precise thought of Professor Phillip Kotler for marketing 3.0. The brands’ symbol, images, and expressions becomes the factors of trust to the consumers who feels the same as the company does.
There are literally countless number of reason for branding and so the importance of branding cannot be simply define by a particular set of points. People tend to buy …show more content…
While considering products, it is often referred to as "brand loyalty". Promoting customer loyalty should be an integral function of a marketing strategy. Marketers generally market with a mindset of attracting new customers but it should not be ignore that existing customers are equally important. Customer loyalty promotes repeated business and so, customers are likely to purchase the products from the brand again and again. As the time grows, customer loyalty also increases, which in turn results in customer making more purchases in either shorter time spans, or either in larger quantities. Customer loyalty also protects the brand from competition. It’s straight forward, if a customer is brand loyal, he will refuse products from the other brands. Not only that, the customer will also produce new customer unconsciously by giving away product review in peer meetings or through social network posts. On the digital media front, reliable customers also go out of the way and share the product videos, concepts, or their own ideas about the product and help promote the brand even further. A purchase going bad or the customer having bad experience with the brand creates high chances that the brand can lose the customer, yet, loyal customers tend to ignore such occasions and continue with the