Value of branding for companies is commonplace, but for consumers, brand importance is gaining new heights. Upon entering the grocery aisle of a supermarket you see many options for a product as simple as sugar. Without even checking other brands extensively, you directly purchase a particular brand of your choice. Here lies the value of brands to make consumer lives easier. We discuss several other reasons in this article.
BRANDS PROVIDE COMFORT
One of the most crucial factors for any consumer of a brand is satisfaction and peace of mind. Humans seek contentment in their day to day lives and brands help fulfil that through trust. A trustworthy brand is important considering the high number of products available in the marketplace. Consumers purchase the brand which they trust the most in terms of quality and security, consequently increasing their comfort level.
BRANDS HELP SAVE TIME
Time is scarce in this day and age when we are all living such fast lives. So how do brands help consumers save time? Brands are most efficient in reducing the decision making time for consumers. For example, Quaker Oats is a well-established brand of oats. A consumer without wasting any time on other brands would choose Quaker Oats because of the prestige and authenticity associated with it. Thus, reducing the time spent on decision making.
BRANDS CREATE DIFFERENTIATION
With an iPhone comes great picture quality, security and privacy which no other mobile phone offers. These qualities increase the brand value which makes it desirable from the consumer’s perspective and the consumers would even pay a higher price for it.
BRANDS PROVIDE SECURITY
Consumers try their best to avoid danger and avoid unfamiliarity. Brands help consumers feel safe. Imagine you have gone on a vacation on an Island, the roads and lanes of which are unfamiliar to you. You would trust an app like Google Maps to relocate back to the hotel. Or for example, you want to have some fast food, so a fast-food giant like McDonald's would be preferred over a local fast food restaurant.
BRANDS ENHANCE CONSUMER SELF IMAGE
According to many researcheRs, brands supposedly enhance the personality of the individual who uses them. Consumers feel more confident, expressive and healthy if they use a particular brand, e.g., a client using Fenty Beauty would feel more confident and happy about using that brand.
BRANDS ARE CONSUMER-FRIENDLY
Brands assure consumers through guarantee, replacement and security. For good brands consumer is king and they hold their grievances and other concerns highly. The iPhone is designed to protect your data and your privacy. Built-in security features help prevent anyone but you from accessing the data on your iPhone and on iCloud.
BRANDS EMBODY THE CONSUMER VOICE
Brands have taken the forefront of activism. Consumers relate with brands that voice concern for social and environmental issues. Recently, incidents of racism have become rampant in the USA and the UK, which has led to massive support for BAME (black, Asian, Minority and Ethnic) communities. Brands are voicing solidarity through various Social media posts and fundraising. These brands matter to consumers because they believe the brands to be their voice.
To conclude, if given a choice to buy, the consumer will always prefer a branded product to a lower-priced "non-branded" product, because brands fulfil their needs, expectations, and demands.
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