“A brand is emotional shorthand for accumulated or assumed information. A brand is present when the value of what a product, service, or personality means to its audience is greater than what it does for the audience.” – Austin McGhee
Branding is a marketing practice in which a company creates a name, symbol or design by which one can easily identify the company. Branding helps to identify one product and distinguish it from other products and services. Branding is important as it is what makes a strong impression on consumers but it allows the customers and clients to know what to expect from that particular company. It is a way of distinguishing one’s business from the competitors.
In short ,brand is built to be a true representation of who you are as a business person.So why branding your business is important;it is important because it creates overall impact of your company. Branding can change how people recognize your brand, it can drive new business and increase brand awareness.
The most important reason of branding a business is that it can ensure how a company gets recognition and becomes known to the purchasers. The logo is the most important element of branding, especially where this factor is concerned, as it is basically the face of the company. Logo design should be powerful and it should have the ability to make an impression on anyone at first glance. Printed promotional products are a way of getting this across.Branding results in recognition of a business .
Branding helps to increase business value. It is important while trying to generate future business, and a strongly established brand can increase a business’ value. This makes it a more attractive investment opportunity because of its firmly established place of the business in the marketplace.Strong branding generally means there is no negative impression of the company amongst purchasers, and they can trust the company. Once a brand has been well-established, there will be positive review and thus advertising will be done by the purchasers in new bunch of people of their known ones .And thus branding helps to increase customer.Well-strategised branding helps the company build trust with consumers, potential clients and customers. People are more likely to do business with a company that has a polished and professional portrayal. This is how branding can create a great impression in a marketplace and it helps to gain trust from all source as well as do the advertising of the certain company.
When consumers buy from brands, they put their trust in them. One survey showed that 81% consumers said that they need to be able to trust the brand in order to buy from them (Edelman, 2019).So branding your business is much important if you really want to grow your business.Your brand should reflect what your business stands for and what sets it apart from your competitors — it expresses the qualities, strengths and ‘personality’ of your business.
Rafiatun Ferdous Khan Lubaba