Brand Awareness: The Importance Of Brand Disposal
Introduction
The idea of branding has been extremely important for many years now. The main purpose of any organization in the corporate world is to maximize their profits. To achieve this they have to ensure they increase their sales which can only be possible when people are attracted towards their goods and services (Malik, 2013). This is where brand awareness comes in. Brand awareness is the capability of consumers to recognize a company’s goods or services. This ability to recap the existence and availability of a brand is also known as brand recall. Brand awareness is the lowest level of brand recall. Creating brand awareness is of utmost importance at the time of launching a new product. It also helps a brand to differentiate comparable goods and services from its rivals. Brand awareness does not imply that the shopper has to remember the exact name of the brand but just enough differentiating attributes to convince them to buy it. For example, if a boy asks his mother to
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Brand awareness plays a major role in the mind of consumers while buying a good or service. If the customer is aware of the brand they will have a certain degree of assurance about acquiring the product due to the exclusivity of the brand which poses less of a risk to the consumer (Gustafson &Chabot, 2007). Any company whose goods and services have a high status and acceptability in the market is down to successful brand awareness. Hoeffler and Keller (2002) were of the opinion that brand awareness can be separated by its depth and width. Brand depth refers to the phenomenon of making a consumer able to remember or recognize a brand in the market from its competitors with relative ease whereas brand width is defined as when a certain brand comes to the mind of the customer who wants to obtain a particular good or
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