Checklist on Why Brands are Good

The benefits that come from a good brand include:

  • Establishing brand equity: This is a set of assets that add value to a product or service of the organisation.

  • Provides consistency: The branding process will provide consistency from the disciplines that are imposed.

  • Makes a product or service more tangible: It makes it easy to differentiate and communicate.

  • Guides decisions: A good brand will set up principles that help to guide management in making decisions.

  • More sustainable: A strong brand will make the product more firmly established in the mind of the potential customer.

  • Provide value: A good brand will add tremendous value to the equity of the business, giving the company a greater valuation for purposes of resale.

  • Develops goodwill: A good brand will generate enormous goodwill. This allows the business to get through the economic downturns of the marketplace or level out any instability.

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