With stiff competition in the consumer market, businesses are directing their efforts to attract and retain as many customers as possible to their brands. One strategy that all businesses use to change customer buying behavior these days is branding. Creating a strong brand goes beyond offering competitive prices or showcasing exciting logo, and scintillating graphic elements. It’s largely based on quality product offering and top-notch customer experience. In this article, we’re going to see how branding impacts consumer buying behavior.
Branding impacts the identity of a business
In today’s competitive market environment, branding is one of the most important strategies a company can use to maintain its level of success. If a business can realize and maintain brand quality, it will have incredible leverage over customers when put side by side with other businesses. Once a business manages to make its brand renowned by meeting or surpassing consumer needs, it becomes easy to maintain market position compared to those businesses that are working hard to build a brand where there are already businesses offering the same products and services. When a brand makes it through the murky market, it becomes a symbol that people identify with.
Branding creates a sense of peer influence
A popular brand always leads to peer influence. For example, when a customer buys their favorite brand, the whole family or relatives who come to visit instantly develop trust in the brand. And so when the same family and relatives go out shopping for the same product, they will always pick the same brand over the others. A single customer who trusts that particular brand has been able to influence the whole family and relatives to trust that particular brand. This illustrates how a strong brand can grow through peer influence.
A strong branding strategy influences customers’ perception about the brand
Clear brand messages directed towards customers can impact their buying behavior. They tend to personalize the message and develop faith in the brand. For example, when a customer sees a bill board advertising a certain product and the message is clear, memorable and impactful, the product message will stick in their mind. And when they go out shopping and stumble across that product, they will want to try it out. When they do so and find that it’s top quality and solves their problem, they will stick to it. So business people who put out strong messages about their products and deliver on those promises always influence customers buying behaviors.
— Dan Harley (@MojaveDan) 19 de junio de 2017