To this day, no one doubts that a brand is created through the customer’s experience in the different points of contact that the customer maintains with the brand, from the physical space to social networks through advertising.
Thus, branding, although some believe that it is a discipline focused on design and the visual part, is the optimal management of all brand promises and experiences to achieve consistency, coherence, value and attraction; aspects that of course essentially incorporate design and visual components.
One of the most relevant characteristics is the loss of importance of conventional advertising in the brand building process; it undoubtedly helps, as long as, like the rest of the communication, it goes hand in hand with the brand’s strategy. If Greece WhatsApp Number List this is not the case, it can even harm the brand by distancing it from its target audiences and generating losses in its value. A brand equity that is its ability to generate long-term profits; When a consumer buys a product, several factors come into play: quality, packaging, design, price and, depending on the category, the brand, adding or subtracting value to the product or service. Thus, depending on the brand, and the sector in which it is located, it influences to a greater or lesser extent the choice by consumers; If we think of brands like Coca Cola, Prada, Nike or even an SME like El Ganso, it can be said that the weight of the brand in the consumer’s purchase decision can be greater than 60%. In short, when buying a brand, they are acquiring an experience, an image, not a product. The opposite case can be found in generic products such as a light bulb or even gasoline, where the weight of the brand is minimal in the consumer’s purchase decision, with other factors such as price or proximity being relevant.
Despite the above, do not be fooled, no matter what sector you work in, that a well-crafted brand will always be relevant in the consumer’s decision process. Thus, companies with valuable brands, including those included in Interbrand Best Global Brands, know that they are capable of generating long-term profitability expectations, thanks to the fact that their brands enjoy very high levels of differentiation, recognition, preference, and loyalty. and potential to attract an increasing number of consumers. Ultimately, the brand influences generating demand, which translates into sales and profitability, which is generated through the strength of its internal and external factors; Driving these factors is the work of branding.
In recent years, there has been a real awareness of the economic and social value that brands represent. Thus, it has gone from balance sheets where tangible assets represented the largest proportion of the economic value of a company, to today where that role is that of intangibles, including the brand. You just have to see where the value of companies like Apple, Disney, Google, Rolex or LVMH resides. In other cases, we find ourselves where the brand has growing power and supports the company’s value, such as financial institutions or large distribution brands. Based on this idea, it seems unquestionable that betting on the brand is a sure opportunity as a way to increase value. Which represents a huge challenge for medium or small companies that cannot base their success on their tangible assets, if not that this success should be based on their way of doing, their creativity, the experiences they generate ,? ultimately, how they manage their brands.