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Why do we create Brands!!!

 

There are several strategic reasons for creating BRANDS Specifically some strategies are differentiation, recognition, and connection with consumers. And that is the reason, it is essential to develop BRANDS for businesses ( Organizations, Products, Services) and Individuals( Person Branding):

  1. Differentiation: When there are multiple choices in Products or services, the company needs to create a distinguished identity from its competition. For example, Cadbury Dairy Milk- Kuch Mitha Ho Jaye (Brand Association with Having Sweets on every occasion), Ghadi Detergent- Pahele Istamal Karo Fir Vishwas Karo ( Use First and then Trust)

  2. Recognition: A well-designed brand strategy enhances brand visibility and helps identify the brand among others in self.

  3.  Awareness: Just like Recognition, a good brand strategy helps to identify and remember a brand i.e. company, products, or service. Over time, this recognition builds trust and loyalty.

  4. Emotional Connection:  An emotional connection with brands always leads to a stronger connection with customer relationships. This emotional connection can be created with specific emotions or values by aligning with a target audience's desires, aspirations, or values.

  5. Consistency:  A consistent message through visual design, tons of voice, or customer experience, consistency reinforces the brand's presence in the market. 

  6. Perceived Value:  Strong branding can elevate the perceived value of a product or service. Well-established brands often command higher prices because customers associate them with quality, trust, and reliability.

  7. Trust and Credibility:   It is important to build a brand reputation and manage it properly. A well-managed brand can become synonymous with trustworthiness, encouraging repeat purchases and long-term customer loyalty.

  8. Competitive Advantage:  A successful brand can become easier to identify in the shelf among all other brands. it helps to create a market leader, making it harder for new competitors to enter the space. 

  9. Customer Loyalty: A strong emotion or value connection to a brand is more, that helps to more likely to become repeat customers. Loyalty programs, brand stories, and consistent experiences further strengthen this connection.

  10. Expansion Opportunities: A well-known and trusted brand can more easily expand into new products, services, or markets.

In Brief, creating a brand is a way to build long-term market strategy and relationships with customers which enhance market presence, and sustain growth through recognition and trust.

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