Importance And Importance Of Branding

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Today's market is characterized by cut throat competition. Every manufacturer wants to capture the major share of the market. This is possible through brand image in the market. Brand name helps in creating favorable disposition towards the products of a particular manufacturer in terms of quality and performance. Brand name lends credibility and durability. For instance Tata Tea, BPL washing machine, Titan watches, etc.

A brand is not a product. It is the product's source, its meaning and its direction and it defines its identity in time and space. Brands identify guarantee, structure and stabilizes supply. Brands draw their value from their capacity to reduce risk and uncertainty.

A brand is a device designed to assist in
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Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.”
“A brand is a singular idea or concept that you own inside the mind of a prospect4”
- Al Reis
As consumers, we don't really think about the importance of branding. We just seem to go with the flow of brand names that have become synonymous with our daily living. But the impact of a name reinforces the importance of branding when we promote our business. Think about one of the world's most popular athletic shoe companies, Nike. The importance of branding is exemplified by the fact that when you hear Nike, you think athletics and "Just Do It." A great brand name and association has catapulted Nike to the top of its industry.

Deciding on a name is not a fluke, but instead is a well thought out process and analysis of names and meaning. The importance of branding begins with creating a simple name for your company. Consumers remember simple. Also, making sure your name can be associated with a positive value, characteristic, or position is part of the importance of branding. Consumers like products to which they can associate positive
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