Importance of Branding: Why is Branding Important
It’s marketing 101 time
again. If you ever did the degree, then
you will remember the age-old sayings, such as the four P’s, SWOT, PESTLE, etc.
Here is a quick refresher article on branding.
Branding is the process
by which a small company can differentiate its product range from the
competition. Each brand will create intangible properties with which consumers
may be indoctrinated. Small businesses can differentiate their products from
the competition, even though their products may match (Pepsi vs. Coke). Brand
features help give different brand personalities. As long as a small business
knows what properties with which to target consumers, as per specific
demographics, then that will represent the brands ability to win a position,
gaining awareness from people with a high interest in the company's products
and thus pay a high price for it.
Three most important
brand features are (in no specific order):
Satisfaction
Demographics
Personality
Why no awareness?
Because, if you do not
have brand awareness, then you do not have a brand. In the same way that painting a white tree on
a white board does not make it a picture (please note that I did not say art,
so keep your snotty emails to yourself).
Different personalities
and functional features create a sense of routine for customers and bring them
closer to the product. Brands create a degree/form of dependence between the
consumer and the brand. On the other hand, it may just be that the brand’s
ranges are fantastic and the product is able to meet the needs of consumers. In
addition, if you are a small company that is constantly providing targeted
customer messages it will create a variety of brand values, meanings and
aesthetics embedded in the consumer’s subconscious.
Such personality traits
tend to be constant and help to differentiate brands. Such features make it
easy, for a company to last a long time, because of their popularity among
consumers being associated with a personality trait. Companies will try to give
their brands the same features as their target consumers to create a link
between the two and appeal to the product.
Customers create a kind
of friendship with the brand. We could say that a brand is similar to the human
personality. That is because many human characteristics are associated with
brands. Brands express a self-serving of both a symbolic and functional
means. Like a brand for jeans that is
tough as a personality trait to enhance the fact that the material they use is
tough and long lasting. Brands are given
human qualities to help people comparably identify the brand with
themselves. Other brand personalities
affect different people. A small business should find out what fits their
personality and create a brand. Only then can small businesses attract
customers who will pay more to buy the product at a high price and come back to
buy again.
