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.
Return to 'Checklist' menu