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Friday, May 7, 2010

How Important branding is to Your Marketing Strategy?

Have you seen the must have "mobile phone" on the bill boards or picture of the fuzzy drinks on the drink mats while lunch? Have you ever thought your subconscious is been programmed in a very delicate way to adopt new products introduced by the large companies as a part of their branding strategies? If you know all these facts can you resist branding? I believe the answer will be "no".

"Golden Arches" or the "White Tick" are very common to most of the people around the globe and people know which the company behind them is. We only have to see their logo to know which company is producing it, similar happens with the top brands of the world. Strong sense of familiarity is the result of the power of strong brand awareness. And this familiarity results in confidence and trust; after all, it must be good reason behind the popularity of a brand.

If you take a standard supermarkets' economy baked bean tin and some very famous brand the more colourful "Hienz". It will be interesting for you to know that 4/5 people could not tell the difference between the tins of beans when gone though a blindfolded taste test. Although the interior is pretty much identical, there is a very huge difference in prices. The colourful brand "Heinz" sells for three times more price as compared to the economy brands. That's why these small green cans are fetching $500 millions a year off the shelves. And only possible answer is the "Branding".

Most of the time we see, when we buy a brand we are not only buying a product but we are presented a lifestyle. People get familiarize with the products and establish a sense of attachment with it and when it becomes intense it is called brand loyalty. It can trigger peoples' emotions with philosophies and lifestyles hence developing an emotional and psychological attachment to the product.

Brand awareness is yet another factor influences the decision and plays a vital role even stronger than the price of the product. In fact branding influence us, we feel happy even paying more for a product having a specific logo on it than the one which don't. The most important technique in developing a brand is EXPOSURE, as much as you can. The simple yet a very powerful way is to put your logo on some promotional merchandise, have your corporate logo printed on day to day objects used in home or office. The image is reinforced every time it passes before eyes.

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