Brands create value for consumers and organizations in a variety of ways.
So your branding efforts benefit everyone ever involved in your business matters.
Benefits of Branding for the Consumer
Brands help simplify consumer choices. They help create trust, so that a person knows what to expect from a branded company, product, or service. Effective branding enables the consumer to easily identify a desirable company, product er service because the features and benefits have been communicated effectively and proven over time by a consistent delivery of what was promised.
Positive, well-established brand associations increase the likelihood that consumers will select, purchase, and consume the product. Dunkin’ Donuts, for example, has an established logo and imagery familiar to many U.S. consumers. The vivid colors and image of a DD cup are easily recognized and distinguished from competitors, and many associate this brand with tasty donuts, good coffee, and great prices.
Benefits of Branding for Product and Service Providers
For companies and other organizations that produce goods, branding helps create loyalty. It decreases the risk of losing market share to the competition by establishing a competitive advantage customers can count on. Strong brands often command premium pricing from consumers who are willing to pay more for a product they know, trust, and perceive as offering good value.
Branding can be a great vehicle for effectively reaching target audiences and positioning a company relative to the competition. Working in conjunction with brand positioning, the brand is the ultimate touchstone to guide choices around messaging, visual design, packaging, marketing, communications, and product strategy.
For example, Starbucks’ loyal fan base values and pays premium prices for its coffee. Starbucks’ choices about beverage products, neighborhood shops, the buying experience, and corporate social responsibility all help build the Starbucks brand and communicate its value to a global customer base.
Benefits of Branding for the Retailer
Retailers such as Target, Safeway, and Walmart create brands of their own to create a loyal base of customers. Branding enables these retailers to differentiate themselves from one another and build customer loyalty around the unique experiences they provide. Retailer brand building may focus around the in-store or online shopping environment, product selection, prices, convenience, personal service, customer promotions, product display, etc.
Retailers also benefit from carrying the branded products customers want. Brand-marketing support from retailers or manufacturers can help attract more customers (ideally ones who normally don’t frequent an establishment). For example, a customer who truly values organic brands might decide to visit a Babies R Us to shop for organic household cleaners that are safe to use around babies. This customer might have learned that a company called BabyGanics, which brands itself as making “safe, effective, natural household solutions,” was only available at this particular retailer.
Do you care about your brand?
If you want to develop your brand or any of its elements, please
contact us. We offer a free consultation over the email or phone, whatever is more convenient to you. And we offer various
services that cover every aspect of the brand building process.
