The American Marketing Association (AMA) defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.
Hence it can be said that Branding is not only about getting your target customers to choose you over your competitors but also about bringing your prospects closer and finally your prospects should believe that you can provide best solutions to their problems. The objectives achieved by good Brands are:
• Clear delivery of message to market and to prospects.
• Confirm the Credibility and Reliability of your organization.
• Create a sense of emotional relationship with customers.
• Helps in motivating the buyers.
• Helps in developing loyal customer base.
Every Brand resides in the mind and heart of customers and a strong brand is not only provide a satisfaction to customers but also invaluable to them. Brand name acts as a source of promise to the customers and it is very essential to understand the needs and wants of the customers before establishing any brand. Benefits of branding can be held from employee’s side also as in within the organization. Employees not only feel motivated but also feel dedicated towards work in a reputed organization. At time of new recruitment Brand Identity comes useful as people associate work culture and compensation to the brand success of the organization. People have a sense of satisfaction when they are purchasing a branding item and people not only buy products and services buy also events and experiences. Good brands provide good overall experience to the customers.