A brand is no longer what we tell the consumer it is — it is what consumers tell each other it is.
Being a co-founder of Intuit, as well as a director of eBay and Procter & Gamble, Scott Cook knows exactly what he is talking about as his companies have built and maintained numerous famous brands.
Psychologically speaking, branding is an incredibly powerful strategy and it can make all the difference.
It seems that the term “brand” has become synonymous with quality, meaning that consumers are more likely to select branded products believing that they will deliver on their promises.
Brand equity is one of the most valuable assets that a company has, and although intangible, it is critical to its financial success.
The Importance of Branding
Even marketers sometimes tend to reduce a brand to a mere logo or symbol, although it is much more complex than that.
A brand is an abstract idea that incorporates various aspects of a product, including a logo, font, name, colours, packaging, as well as a wide array of consumers’ perceptions of it.
