Importance Of Branding And Brands

According to the textbook, a brand is a name, term, sign, symbol, design, or any combination of the above that identifies certain goods or services. These brand identifications will differentiate the product or services from other companies or competitors. Branding and brands are important because people associate the brand with certain goods and services and it is the brand that should speak for itself. For example, personally, when I travel anywhere and I want to eat something familiar, I look at the brand to know that their quality will be the same because of the brand. For example, when I travel I like to eat sandwiches from the brand, ‘Subway’ and have breakfast at, ‘MacDonald’s’. According to Lisa Wood, brands are not just names

According to the textbook, a brand has positive brand equity which is that consumers prefer that brand over local or generic unbranded versions of something. Using the same example of a Subway tuna sandwich as mentioned above, a tuna sandwich from a generic unbranded place will not hold the same value to the customer as having the brand of Subway and having the sandwich from that brand. Some people think a brand is familiar and that is why they feel more comfortable with it, others have gotten use to the brand and are loyal customers. A strong brand is important because the stronger the brand the more consumers are loyal to the brand and value the brand. Brands such as Hilton, MacDonald’s, and Subway are some examples of strong brands that speak for themselves and consumers are very loyal to these brands because of their strong branding. If you have no brand then first of all you are not competing with brands. Customers loyal to brands will most likely choose the brand over unbranded or generic products. Customers are not very likely to be loyal because they may not get the same feeling they get when they use a product which has a brand. According to the article by Susan Gunelius, factors that define brands are as

The brand promises satisfaction and also it promises the emotions that a person gets when they use the product or services. For example, a person who loves Nike brand wears the shoes because it gives them satisfaction of quality, and also it is a feeling of athleticism, performance and strength. Every brand promises something to the customer, and the customers are loyal because they find the promise that the brand makes. Secondly, brands are perceptions which are built by consumers. It is in the favor of the company to make their brand something that evokes positive perceptions in consumers. An example would be to ask yourself what is your perception of a certain brand, and as a consumer of that brand, how are you convinced that this is the brand for you? Thirdly, every brand makes a promise to consumers, and that is what the consumer expects. When a person spends their money on a brand, they are expecting something great. Consumer loyalty builds by making sure that the consumer gets what they paid for every time they spend on the brand, otherwise, they can leave the brand and turn to something