One is remembered: It’s tough to remember a company with a generic name. A brand distinguishes business from its competitors with respect to the firm’s purpose and business focus. Branding your business ensures that customers are aware what the brand stands for and what is the portfolio. Marketing team’s role is to promote a product and a brand’s new product will need minimal communication and advertisement cost.
One gains customer loyalty: Consumers build close bonds with brand identities. Consumers want quality products that they can trust. So, your business should have an identity that your customers can follow immediately. People will not only remember you but also refer you to friends and family. A brand stays in the heart of customer to its difficult to re-position it. This helps to reduce stress overhead of marketing and sales team.
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...cating about your products to new customers is a costly affair. The loyal customers will be a strong influence to get prospective customers to try out your brand, reducing the overall overhead in acquiring new customers. Customer loyalty protects your business from the competition. Thus, neither low prices can take your loyal customers away, nor your high prices will make them go away. Thus, a business is immune to economic conditions and to cruel competitors hovering over your business like vultures. Loyal customers provide honest feedback, as they want to see your brand thrive and support them better. Many times, new customers don 't voice their concerns and leave you quietly. You hardly get feedback from new customers and this is harmful to the product and service quality. Loyal customers are more likely to overlook your errors or forgive if timelines are not met.
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