Importance of Brands

We understand that brands are important and in this lesson we will learn the importance of brand to companies and consumers. In this lesson, we will talk about why brands actually bring value.

Why do Brands Matter to Consumers

The brand serves to give users the ability to assign responsibility for a particular product. The brand has a special meaning in the eyes of users. Based on the experience with the product, users compare brands and decide to buy or use the brand that meets their needs. In this way, they believe in the brand and become loyal customers. In short, a brand is a tool that makes it easier for users to make product decisions.

Why do Brands matter for Companies?

The existence of a brand provides legal protection due to the unique characteristics of the product. The brand retains intellectual property rights. The brand name can be protected by trademarks, production can be protected by patents, and packaging by copyright and design. All these intellectual property rights enable the security of the company and its brand. When customers perceive a brand as quality, they become loyal and buy the same brand again. This loyalty provides secure demand for products and creates barriers to the entry of new companies into the market.

Source: Pexels

Conclusions

Going through this course and the examples we have prepared, you will notice what can be achieved with the help of a brand.

Here you have the contents of the lesson in PDF: