To answer this question, we must first understand what branding is? In its simplest definition branding is when a product resonates with your consumer’s psychological value more than its functional value. For instance, Coca Cola is a multi-billion-dollar company despite there being so much controversy around cola drinks.
People still consume it, buy it in bulk during summer seasons and serve it on family dinners. One might wonder why? Because Coca Cola is not just a drink anymore. The brand has a personality and it’s your partner offering you unsurmountable satisfaction as you carry it around and drink it.
In the past couple of years, major companies have found ways to ease their way into the minds of the people who purchase them. It is not just about marketing but about after marketing as well. And making the product or service experience for your consumer that he/she remembers for time to come.
5 reasons why branding is a must for your product/service
In today’s consumers market where there is mushroom growth in all categories and every other corporation is coming up with a plethora of products. One must stand out and isolate itself from the others by creating a distinctive identity that helps it stand apart.
For instance, if you go inside a grocery store and there is Coca Cola and Master Cola in the Cooler, which brand are you more likely to buy? Coca Cola has created its brand personality over a hundred years and has been heavily advertised. It is also well known for making the most stand out ads and the biggest most exciting campaigns throughout the year.
Giving your product a brand identity ensures that the consumers resonate with it. It creates a relationship with consumers. The consumers can connect with a brand in an almost human manner and associate their personality traits in the brand’s personality.
Each brand manager these days, establishes a brand personification for their product and ensures that the brand consists of the traits of the target market audience. Only then can the brand resonate with the consumers and target market.
Creating a strong brand personality ensures that the brand holds a sacred place in the mind of the consumers. As they can rely on the brand’s name to ensure quality.
Advertising and Quality of the product itself plays a major role in building that perfect image for the brand. That when the consumers go to the market, they pick up Coca Cola as opposed to Master Cola because they can rely on the brand and be sure of the quality assurance.
In a consumer market like ours, brand managers heavily rely on impulse buying behavior of the consumers. When the consumers go to the hypermarkets, they are heavily influenced by the branding on the aisles and can pick up the product since they are sure about the quality of the product.
Grocery stores rely heavily on impulse buying behaviors by placing the fizzy coolers next to the checking out counter. So that the consumers are unable to resist the urge to grab the product on their way out of the store.
Brands can garner a relationship of trust with the consumer as the product is known for its good quality. And the consumers tend to put the product on a pedestal in their minds.
Brands can heavily influence consumer behavior by building trust and such a relationship where the consumers can trust the product due to its brand personality.
The brand managers can establish such a strong brand personality that the consumers know that whenever they buy this product it will most certainly be of good quality.
Hence, corporations must create a brand personality so that consumers can emotionally connect with the products. And ensure that each product has its own brand identity and the consumers can resonate with it.
By building a strong emotional connection with the consumers the brands are able to identify themselves distinctly among the clutter.
Of course, advertising and consumer experience with the product has a huge role to play in all of this, creating a stand out advertisement and running campaigns that create top of mind and connect with the consumers.