The Importance of Brand

The question we start with is Why is branding important in business.

Branding is critical to a business because of the overall impact it makes on your company. Branding can change how people perceive your brand; it can drive new business and increase brand value – but it can also do the opposite if done wrongly or not at all.

I’ve spent a career in marketing mainly in the field of creative brand marketing and strategy. In today’s world brand dominates. Let me add the significant difference between what you think is a brand e.g. a nice logo, a set of cool colours-ways, striking copy that comes together in some fancy front-end design.

Brand is more than design decoration it underpins the integrity of the business it represents. It creates a culture of excellence within the organisation, it’s values leadership principals, it inspires everything and everyone around it.

Brand Drives Business Strategy

Brand drives business strategy. Take Nike, its voice is an innovative as it’s products. Nike is a cultural icon and gets my vote for being one of the greatest brands of our lifetime. Nike use emotion to move you into action, yes you can Just Do It.

Emotion is the motivation that moves Nike’s consumers into believing they can just do it, whatever that movement is, it’s personal to the individual and can range from trying out a new fitness regime, a sport or just deciding to sit less and walk more.

Nike give their consumer a sense of self purpose, that’s intangible, but Nike make it tangible. They’ve created a belief system in their consumer’s that Nike is perceived better than their competitors.

Back to Basics

Let’s bring it back to basic fitness apparel, without a brand it’s just a basic commodity to wear when you exercise. Nike and Adidas both have built a strong brand value over the years and maintained the image of the brand. In 2022, Nike was valued at approximately 33.1 billion U.S. dollars and Adidas valued at approximately 14.3 billion U.S. dollars.

Brand value of a company and brand speak, what they stand for and how they are perceived is in the eye of beholder, and it is all determining for the consumer, simply meaning the worth of a brand is only in the eyes of its customers.

A company with a good brand value like Nike will be able to introduce and sell new products more easily as customers will be more willing to try out the new products. Therefore, building a strong brand value and maintaining it is of great importance.

In Conclusion

To conclude, brand is an integral part of business; it works hard to give your customers a reason to believe in your product and a reason to choose you over your competitors.

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