Branding is the identity of a business. It is reflected in everything the business does from the business logo, and colour scheme right down to the customer service, purchasing process and any interaction with stakeholders.
Brand Image
Brand image is the general impression of a business that a business has by current or potential customers. It is what comes to mind when customers think of the business.
Coca-cola is known for having a very strong brand image. It is available in over 200 countries and the red and white Coca-Cola logo is recognised by 94% of the world’s population, even in the few countries where it doesn’t operate.
Benefits of a strong brand image:
Brand Loyalty
Brand loyalty refers to how likely customers are to continue purchasing from a business and not switch to competing brands.
Apple is known for having very loyal customers and high brand loyalty. On 16th March 2021, a consumer survey found that Apple’s brand loyalty reached an all-time high of 92% whereas Samsung experienced a huge drop. Apple customers are known for being so loyal that they are sometimes referred to as iSheep by critics.
Benefits of high brand loyalty:
