Brand awareness is the recognition of a specific brand name or logo, along with the traits associated with that brand. It is difficult to benefit from having a brand unless consumers are aware of the brand and the traits associated with it.

What Is A Brand?

A Brand helps position a product in the marketplace. Brands are often linked to things that are key motivators when a consumer is considering a purchase. In other words, a brand may be what makes a consumer purchase one product rather than another. A strong brand will convey the values you want associated with your product or service.

Brand Preference

Brand preference is when preference is given to one brand over competing brands, or to a recognized brand over unfamiliar brands. Brand reputation often influences consumer choice. Buyers often prefer one brand over another because they admire the traits associated with the preferred brand.

Brand Equity

Brand equity is the value associated with the brand. It is often difficult to assess the value of brand, because much of a brand's equity is the goodwill established with or perceived by consumers.

Brand Recall

Brand recall simply refers to the ability to recall specific details associated with a particular brand. Part of building a successful brand is being able to have consumers recall the traits associated with your brand. The easiest way to have a brand recognized and recalled is from repetition. This is why advertisers will so often repeat certain phrases associated with a specific brand over and over.

Quality Guarantee

A successful and well-known brand will often reassure the buyer with an implied quality level. A perceived level of quality is typically associated with a brand. Take the company LL Bean for example -- LL Bean is known for their impeccable customer service and a great returns program. There is a perception that if someone purchases something from LL Bean, not only will it be of high quality, but any issues or problems that arise after the purchase will be dealt with quickly and without problem.

Dynamic Branding

Branding is dynamic and constantly changing. Every interaction that a customer has with a brand can impact their opinion of that brand. As a result, it is important that such interactions be consistently positive, as this will help build a long-term customer relationship.

Brand Extension

Brand extension is the act of taking an existing and established brand and lending it to a new product. Brand extension is beneficial, but can also be dangerous. Extending a strong brand to new product lends that new product an automatic level of credibility... but if the new product is inferior or not up to the customer's expectations, the brand's reputation can be damaged.

Branding helps differentiate products. Learn how to use branding to establish your product in a niche.

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