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all points of contact with the brand, otherwise known as brand experience.
Brand experience is a brand's action perceived by a person. The
psychological aspect, sometimes referred to as the brand image, is a
symbolic construct created within the minds of people, consisting of all the
information and expectations associated with a product, service, or
company providing them .
Brands
Good branding gives a company several advantages, including establishing a positive
reputation and building an image attractive to consumers.
mere differential of product cost versus selling price. They should represent
the sum of all valuable qualities of a product to the consumer.
A brand which is widely known in the marketplace acquires brand
recognition. When brand recognition builds to the point of a critical mass of
positive sentiment in the marketplace, it is said to have achieved
brand franchise. Brand recognition is most successful when a brand is
recognized independent of the company's name, but rather
through visual signifiers like logos, slogans, and colors. For example,
Disney has been successful branding with their particular script font,
originally created for Walt Disney's "signature" logo, and which it now uses
in the logo for the website GO.com.
Consumers may view branding as an aspect of products or services, as it
often serves to denote certain attractive qualities or characteristics. From
the perspective of brand owners, branded products or services also
command higher prices. Where two products resemble each other, but one
of the products has no associated branding (such as a generic, storebranded product), people may often select the more expensive branded
product on the basis of the quality or reputation of the brand or brand
owner. Benefits of good brand recognition include facilitating of new
product acceptance, enabling market share penetration by advertising, and
resisting price erosion.
Source: Boundless. The Benefits of a Good Brand. Boundless Business. Boundless, 26 May. 2016.
Retrieved 05 Aug. 2016 from https://www.boundless.com/business/textbooks/boundless-businesstextbook/product-and-pricing-strategies-15/product-packaging-and-branding-99/the-benefits-of-agood-brand-465-7936/