The power of branding
The power of branding is everywhere around us. There’s no escaping the influences that brands create around their products and we’ve grown up surrounded my brand names for many years.
From a very early age I can remember seeing brand names in the shops, although I never fully understanding what they meant as a child or paid much attention to how the industry worked when it came to branded names.
Over the years we’ve been very much influenced by ‘flash’ labels and what it means to others when they see us wearing or using brand names.
There’s many a reason why people buy brand names. Understanding the motives behind these reasons helps businesses to make product decisions.
Creating and developing a store layout and promotion of their business is an important part of any business.
Let’s look in depth at some of the reasons behind buying brand names.
The power of branding
Good quality of a product will often mean that your product has the strength to withstand wear and tear.
This will generally be a good investment of your money when you make a purchase.
We have customer Satisfaction. High-quality products or services meet or exceed customer expectations, resulting in greater satisfaction. When customers are satisfied with their purchase, they are more likely to become repeat customers and recommend the product or service to others. This is beneficial to any business.
The reputation and brand image where consistently delivering good quality products or services helps to build a strong reputation and positive brand image. A company known for its quality builds up trust, is more reliable and credible. This reputation can give a business a competitive advantage, attract new customers, and retain existing ones.
We all love value for money and good quality products or services that provide just that means that customers are willing to pay a premium price for high-quality items because they expect them to last longer and perform better.
Investing in quality can lead to long-term cost savings for customers, as they are less likely to encounter issues or need frequent replacements or repairs. There is also less time wasted having to replace or exchange items when they do not fit their purpose.
Customer loyalty is key and when customers receive good quality products or services consistently, they are more likely to develop loyalty towards the brand. Having repeat customers contribute hugely to a business’s revenue and profitability.
Loyal customers often become brand advocates, promoting the business through word-of-mouth recommendations and positive reviews.
All companies aim to reduce returns and minimise complaints. By offering good quality products or services, this helps to minimise any negative issues from customers.
In competitive markets, good quality can differentiate a business from its competitors. When a company consistently delivers high-quality services and goods, it stands out and becomes a preferred choice for customers. This differentiation can help businesses attract new customers and gain a competitive edge in the market.
In some industries, maintaining good quality is necessary to comply with regulations and standards. Industries such as healthcare, food, and pharmaceuticals have strict quality requirements to ensure the safety and well-being of consumers. Meeting these quality standards is not only a legal obligation but also a moral responsibility.
Trusted companies who sell branded
We like to purchase from companies that we know and trust as there’s a sense of safely, professionalism, guarantee, reliability and feeling comfortable making a purchase. We are also more likely to return. Whether it’s a product or a service, building trust is an essential part of any business.
We feel we won’t get let down or left with a faulty product because customer service is usually pretty high with the top named companies.
Peace of mind when buying branded
When we make a large purchase from well- known companies, we are guaranteed peace of mind. If anything were to go wrong with the product, we have the fulfillment that any issues will be looked at and dealt with.
It’s in the best interest of the company and important to their reputation to look after their customers.
Less decision- making
We seem to be less hesitant when we buy from branded companies.There’s a feel of safely and we appear to not have so many doubts when we look to purchase.
Unknown brands often lead us to search the internet for more information before we make a purchase, just to be sure we won’t be left disappointed.
Added value
Perhaps it’s a myth that we seem to get more for our money when we purchase brand names. Products appear to be better quality and the brand companies know that they have an image and a reputation to adhere to.
Customer satisfaction will always equal repeat sales and customer visits, whether they are online or in store.
An expression of who we are -branded products
When we think of individuality, it’s often the younger generation that springs to mind. Children grow up wanting designer brands but they have no idea about them when they are so little.
As they grow up, social media, TV advertising and day to day chats with friends, has led to our children learning about designer products from a young age.
They learn that they are more accepted by others when they are wearing a designer brand. Some perhaps were introduced to designer clothing and footwear as youngsters, due to parents feeling influenced or pressured to keep up with other parents and therefore the latest clothes, shoes etc were bought from high end shops.
Loyalty with branding
Some shoppers may feel that there is some kind of loyalty to a company or business when they buy brand names and therefore won’t shop anywhere else. They have built up trust and perhaps fear that by shopping elsewhere, their shopping experience may lead to disappointment.
Image and branding
When people have a design to fit in, school, the work place or socially, they’ll often buy band names because they believe it will assist and contribute to a greater, social acceptance, especially where fashion is concerned. The fashion world is very fast-moving and youngsters especially, feel pressure to keep up with the latest designs and styles.
Interesting…and unknown possibly to many of us is that it can also come down to a psychological need.
We all send out certain messages to others. For example, if we bought a £200 hand bag, knowing that we can get a cheaper one for £20, by purchasing the more expensive option gives a statement of importance.
Others may comment and notice the brand name and we instantly feel more accepted and worthy by having a more expensive item.
We’re built to be influenced and to be accepted and the more expensive the hand bag, we feel will gain more popularity from others. Alongside the opportunity perhaps to show off the fact that we have the money to purchase an expensive item.
Youngsters and branded products
Teenagers buy expensive labelled clothing but not because they can afford them. It comes down to feeling accepted by other and fitting in.
People want to portray a certain image, a greater social acceptance. Almost like ‘keeping up with the Jones’ ‘
Over the years, we have become more accepting of buying non designer and branded items.
When someone asks where we bought our jacket / tee shirt or shoes, we’re more likely to be proud of saying that we purchased it from Asda, Matalan, M&S, with the added comment “it only cost me £20/30….bargain “
As we grow up, buying brand names becomes less of a necessity and we are happy to buy a cheaper item and save money for other things.
Status attached to branding
For many brands, you are quite simply buying the name and the status that is attached. The next time you purchase a coffee from Starbucks, a pair of Nike trainers or a bottle of high end designer fragrance, think of the smaller companies who sell similar products. Many will have the same quality as the expensive brands but without the extravagant price tag.
Being unique doesn’t have to cost a fortune
Conclusion
The power of branding cannot be underestimated in today’s competitive market. As consumers, we are constantly bombarded with a multitude of products and choices, making it challenging for brands to capture our attention and loyalty.
However, effective branding strategies have the ability to cut through the noise and create a lasting impact on consumers.
Through consistent messaging, compelling storytelling, and a well-defined brand identity, companies can differentiate themselves from their competitors and establish a strong emotional connection with their target audience.
Branding goes beyond just the logo and tagline; it covers every touch point that a consumer has with the brand, including product packaging, customer service, and even the company’s values and mission.
A strong brand not only helps to attract new customers but also cultivates brand loyalty among existing ones. Consumers often seek familiarity, reliability, and trust when making purchasing decisions, and a well-established brand can provide them with that assurance.
When a brand consistently delivers on its promises and exceeds customer expectations, it builds credibility and encourages long-term relationships.
Besides, branding has the power to create a responsible value for a company. A well-known and respected brand can command premium prices for its products or services, making it more resilient to price fluctuations and economic declines.
It also opens up opportunities for brand extensions and partnerships, expanding the brand’s reach and influence.
In today’s digital age, where social media and online platforms play a significant role within building consumer awareness, branding has become even more crucial. Brands must adapt to the ever-changing landscape, engaging with consumers through authentic and meaningful interactions.
Successful branding in the digital era requires agility, creativity, and the ability to harness the power of technology to deliver personalized and memorable experiences.
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