Why is brand important
A brand is important as it can either make or break a business. A brand is defined as the identity of a specific product, services, or businessÃ¢â‚¬Â and can take the forms of a name, sign, symbol, color combination, or sloganÃ¢â‚¬Â according to Wikipedia.
A brand is believed to have started from the practice of branding cattle by means of stamping hot iron on the animal’s skin so that it can be easily identified by its owner.
With the same concept, brand is important for easy identification of products (or services) by the consumers. With the vast numbers of goods and services that are offered in the market it is important to have a brand name that will definitely distinguish one’s product from its competitors. It should also be appealing and delivers a message that it is the only brand that can truly provide satisfaction to the needs of the consumers. A brand makes it easier for consumers to choose a product and spend little time thinking why they should specifically buy that brandÃ¢â‚¬Â from the rest of generic products that is in the market primarily because they already trustÃ¢â‚¬Â the brand.
Also, a brand is more than just a products name. It also signifies ownership. It is often linked with the company that manufactures it, as well as the kind of services that the business provides.
A brand is proven an effective and powerful tool in the world of business. It enables the consumers to identify and relate to the product (how good or bad it is), even though they have not tested or used the goods before. Of course, coupled by an excellent advertising and promotion, the product should be able to connect with the consumers. And once the consumers are hooked up with the brand, they will most likely return to purchase the same brand of product or services.