Premium Essay

123fefw

In: Novels

Submitted By officialkok
Words 331
Pages 2
Benefit of branding to customer/retailer

The first benefit is loyalty. When people have a positive experience with a memorable brand, they're more likely to buy that product or service again than competing brands. People who closely bond with a brand identity are not only more likely to repurchase what they bought, but also to buy related items of the same brand, to recommend the brand to others and to resist the lure of a competitor's price cut. The brand identity helps to create and to anchor such loyalty The next benefit is familiarity. Branding has a big effect on non-customers too. Psychologists have shown that familiarity induces liking. Consequently, people who have never done business with you but have encountered your company identity sufficient times may become willing to recommend you even when they have no personal knowledge of your products or services. Besides that it also help your brand to have a extension. With a well-established brand, you can spread the respect you've earned to a related new product, service or location and more easily win acceptance of the newcomer. For instance, when a winery with a good reputation starts up regional winery tours, then adds foreign ones, each business introduction benefits from the positive perceptions already in place. Other than that, company can reduce their expenses after branding. Although you must invest money to create a brand, once it's created you can maintain it without having to tell the whole story about the brand every time you market it. For instance, a jingle people in your area have heard a zillion times continues to promote the company when it's played without any words. At last, it build confidence to consumers. When someone feels under pressure to make a wise decision, he or she tends to choose the brand-name supplier over the no-name one. As the saying goes, "You'll never be…...

Similar Documents

SET OF 4 VICTORIAN FLORAL SHELF BRACKET/BRACE, Antique Brown patina cast iron | Textilgewerbe & Schneiderei | 1 kg RĂ©sine polyester ISO BLANCHE RAL9010 avec 20 ml Catalyseur