In today’s world brand is essential for the business. As you can say right from giant companies to small business has to build their brand.
The legal term for the brand is Trademark where the seller has its own products or services to sell in the market. Branding is all about to make your unique logo or ideas that give awareness to the consumers for life.
Your Brand is what other people will say when you are not in room ~Jeff Bezoz ,Amazon
So the brand is what that makes identity and play a major role in your Business. Does branding cost you more!! Of course not…
There are many tools to build your brand. It is all about the consumers who get highly satisfied and increase in ROI(Return on Investment ) to the company.
The brand delivers the following key benefits to the Organization are.
- Increase market share and revenues.
- Increase in profitability.
- Increase customers Loyalty.
- Increase clear vision
- Increased in stock price and shareholder value.
- The decrease in price sensitivity i.e. ability to charge a premium to the consumers.
- Increase in the ability to attract and retain high-quality employees.
- Increase in mobilize company’s people to different geographical areas and focus its activities.
A strong brand to product or service gives strength and independence to stand for life and increase market growth.
It gives the flexibility to categorize product or service based on market demands. Many studies subject to brands has resulted significantly.
Through this branding driver, the value will be similar to all the industries which are,
- Research and Development and Innovation
- Quality Management.
- Employees quality and satisfaction.
- Branding Investments
- Product & service Quality.
Deception in Brand
lack of quality and control management leads to break client trust. In-spite of branding a product or service which will be tested once in 18 months or 24 months to benchmark with competitors, the company may face crisis or problems or critical change in industry result in the brand image.
This may result in losing consumers to the competitors. Even High level of branding would result to brand failure. Branding is measured in the digital market and reaches more users. Branding can be done both in digital and Offline.
Branding for current clients in present is more essential would result in more in future.