5 IMPORTANCE OF BRANDING YOUR BUSINESS
WRITTEN BY ADEGBOYE OMOTAYO THEOPHILUS
Below are the 5 importance of branding your business:
- Identity of a product: Branding is important because it help to give a unique name to a product and also transform a generic product into something that is recognisable and easily memorable in the society.
- Creation of Trust: since brand name is a signs in order to identity a product,it increases the customer’ trust in it as they now can identify whom to blame or promote according to their experience.
- Increases the Market value: The brand name of a product has its own value as a separate asset which is called brand equity. Brand equity is the increase in value of a product,however a brandcan be sold as a separate asset too.
- Support the marketing strategies: influencer marketing ,referral marketing and advertising strategies can only succeed if they are complemented with an identifiable brand. Marketing strategies require an identity to promote their brand and the brand is what gives an identity to the product.
- Increases employees trust and satification: When an employees work with a renowned brand,their satisfaction increases and they are more motivated and encouraged to work hard.
Written by: Adegboye Omotayo Theophilus.
Teedesign and Teemedia.
