Why Is Branding So Important?
Today, we live in a century where we get to choose among hundreds and thousands of different brands. From products on the supermarket shelves to complex global tech brands. We most probably have a favorite one, one we are loyal to and several that we will recommend to our friends.
That’s why, brand identity is absolutely critical to a business. It’s the overall impact it makes on it and its customers. Branding is all about awareness, recognition, trust and it can change how people perceive your brand.
So, you should not underestimate the power of a good brand. It’s the bundle of thoughts, feelings, actions and impulses that people have when they hear about your brand.
A great example of a powerful brand is MasterCard – one of the leaders among payments & technology companies that has decided to remove the name from its logo according to the Wall Street Journal.
The company made 20 months of world-wide research to make sure that people would still identify the brand from the logo even without the text. This would leave the brand only with the interlocking red and yellow circles to represent the brand on cards, in stores, at events and in advertising.
The smart move continues as an effort to play down the “card” in “MasterCard” as new payment methods and technologies spread, making the company one of the few marketers such as Apple, Nike and Target that have preferred to go by visual symbols only.
Do you have a favorite brand?
Digital Marketing Specialist
ExpandX Marketing & Web
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