Brand image is the perception customers have about your brand. It is the opinion they have about your brand. Brand image is developed through the interaction customers have with the brand and the reputation built through such interactions.
Let’s discuss in detail:
- Creates Recognition: Positive brand image creates a positive reputation for the brand which ultimately increases recognition of the brand in the market. Well recognized brands are able to grow at a faster pace than the brands which are not recognized or recognized less in the market. Customers prefer to buy the products or services which are well recognized.
- Helps you extend your product line: The power of a strong brand image could be leveraged by the organizations when launching new products or services. Organizations are able to capitalize upon the existing brand names by utilizing the brand reputation they have already established in the market. This is done through launching new products or services with existing brand names.
- Increased customer trust: Brands with a strong brand image are able to command a higher level of trust among the customers. Customers view such brands as reliable and trustworthy due to the positive reputation these brands have. For customers, it means better products and services whereas for the organizations it means higher revenue.
- Price Premium: Products or services with a strong brand image are able to proclaim a price premium. The customers are ready to pay this price premium to obtain the satisfaction they would derive from choosing such a brand.
- Strong impression: When customers are confronted with products or services of a brand that possesses a strong brand image, a positive impression is created on them. This makes them prone to choosing such a product or service.
- Growth of Brand Equity:Strong brand image ensures the growth of brand equity. The overall value of the brand is increased due to favourable customer perception of the brand. This brand equity is considered an asset for the organization as the organizations are able to obtain higher revenue due to this equity.
Conclusion: With a strong brand image the organizations are able to command a higher revenue and establish a well-recognized name in the market. The power of a strong brand image could be utilized to boost the growth of the business. Start your own brand today by buying logo now.