Branding Basics - The Importance of Branding
- Posted on Feb 22, 2012 in CHI University
Okay, so branding is important. But why? Well, would Coca-Cola be “Coca-Cola” if it weren’t for such immediate brand recognition? It’s a fact that young children can more readily recognize brands such as McDonald’s than the president’s face. Consider this: When you ask for something to cover a cut on your finger, do you request a Band-Aid or an adhesive bandage? When you need to blow your nose, do you ask for a Kleenex or a facial tissue? If you need to clean your child’s ear canal, do you reach for a Q-Tip or a cotton swab? Let’s face it. Branding is so important, so omnipresent, a successful brand can become synonymous with the product itself, even more used and recognized than the product's original name.
Now, these are big, to put it mildly, brands we’re talking about. On a more simplistic level, for the smaller companies out there, the bottom line remains that people are willing to pay for products and services to be of value. If your brand has develops a positive reputation and is viewed as valuable, you will build a loyalty among the public. Consumers have loyalty to brands that distinguish themselves with respect to certain attributes – quality, safety, value, reliability, security. By building brand loyalty, you will have built a very successful and likely very profitable, long-term relationship with your customers and prospects.
Overall, a successful brand isn’t just recognizable. A successful brand telegraphs the key attributes of a company, product or service and helps maintain that trust throughout the relationship with the public.
Now you know why branding is important. Next up in Branding Basics, we’ll delve into the definition of a brand.
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