THE POWER OF BRANDING WITH NAVZOO
Branding is just not a marketing practice in which a company creates a name, tag line, symbol or design that is easily identifiable as belonging to the company. It is a way in which a company, distinguishes itself from its competitors and how it is more better and unique in the market as compared to its competitors.
Brand and branding strategies are a way of telling the consumers about their business, how it works and what it offers. This helps in positioning the brand in the minds of the consumers. Branding can no doubt be costly and time consuming but is very beneficial in the long run.
In spite of the benefits of branding, we always come across businesses that don’t have a brand. This is one of the reasons why they don’t succeed in the market as they are able to grab customer attention.
Power of branding is its ability to influence a consumers behavior and also it helps a company to build its reputation in the market. A brand which has a good reputation in the market and in the minds of consumers elicits more purchases, advocacy, donations, shares, generates new customers, increases business value etc.
Starbucks sells coffee, like any other millions of coffee shops. But they are able to charge a premium on their products and running successfully since ages all across the world. This is all because of the true power of brand building throughout their journey which includes the trust, dedication, customers, employees and every other little places which carried the name 'Starbucks'.
For eg- In 1990's computers had got faster, better and, most importantly, cheaper. Microsoft was making billions by providing operating systems on all of these machines on the other hand Apple was making expensive machines but nobody wanted expensive computers when cheap would do.
In 1997, Steve Jobs returned to Apple with the of idea of making more expensive computers. The only difference was he redoubled Apple's branding efforts, and came up with in the "PC vs. Mac" campaign. Apple still makes really expensive products but the only difference now is that people want to own a Apple product as the brand itself means richness.
As brand builders we work with organisations who believe and understand how the power of branding can create a significant impact for the business on the long run.