Characteristics Of A Strong Brand – Benefits Of Having A Strong Brand

Posted on

Branding is an important aspect of marketing mix. It helps the organization’s to distinguish its products or its services from the rest of the products or services and thus brings  recognition to the organization.

Therefore, every organization makes an effort to build strong brand name for its products which in return helps them to create separate identity and contributes towards growth and success.

A strong brand is recognized by its various characteristics. So, it’s essential for organizations to understand the characteristics of strong brand to strategize and market its products accordingly.

Like, a strong brand must be able to create brand loyalty towards for its products or services. This in return helps to increase the sales and hence profitability of the product.

A strong brand name enables the marketers to quote a comparatively higher price for its products. Since, these loyal customers have developed trust and confidence about the products; they are ready to pay higher price for them against similar existing products in the market.

Strong brand names help the consumers to associate and identify themselves with the product and thus assist in creating emotional bonding with the product. This in return helps to form strong and long term relationship with the brand.

Generally, people take the advice of their friend’s or close associates to purchase costly goods and hence word of mouth is considered to be one of the reliable source of advertisements. Strong brand names, helps in word to mouth advertising about the product and hence the organization

Strong brand names and loyal customers go hand in hand.Hence; strong brand helps to increase loyal customers and therefore, the market share of the product as well as the organization. This, in return contributes towards the profitability and growth of the organization.

Brand image of the product is very essential to attract consumers. Strong brand names, helps to create a goodwill about the product and hence a positive brand image in the market.

Strong brand helps to add value to its other products. In other words, it helps to create a good image of the organization on the whole and hence for its other product lines.

  1. Risk is an unavoidable element of business. In fact, it
  2. Branding is an important aspect of marketing mix. It helps
  3. Gone are the days when the things were being done
  4. To do any kind of work, one or other way
  5. There are a number of emerging concepts for getting the
  6. Market research is an important marketing tool used by organizations
  7. No project can be successfully completed unless there is a
  8. Many of us have great but putting them into practice
  9. Writing a good business plan is essential to be successful
  10. The formation of consumer attitudes is strongly influenced by personal