Benefits of Brand
- Brand allows you to set higher prices for your products and services.
- People associate higher quality with branded products. Because people trust branded products and services more.
- Brands must make and keep their promises.
- Once your product is branded then it typically earns a higher market share while lowering your cost of sales.
- With an established brand, it’s easier to launch new products or services. When consumers see the brand’s logo on a new product they instantly associate the brand’s promises to that new products or services from day one.
- Brands create status, position, and esteem for your company in the minds of industry leaders, community leaders, the media, and financial markets.