BRAND INFLUENCE ON CONSUMER BEHAVIOR
We live in a world with a large selection of goods and services, their diversity makes it difficult to choose just one. Brands influence our purchasing behavior in many ways, which we will try to understand in this article. Let's start with the disclosure of the essence of the term itself.
Brand - is a set of concepts that generalize people's ideas about the corresponding product, service, company or person. Widely used in marketing and advertising, however, it is a financial concept.
Both external and internal factors play a significant role in the decision-making process. While flashy designs can attract shoppers, emotional appeals have an even greater impact on buying behavior. Brands focus not only on their product, but also on people. Experienced professionals know how we think when we make a purchase decision and what motivates us to do so.
A brand identifies a product and distinguishes it from competitors. Subsequently, this image in the mind of the consumer begins to be associated with the level of trust, quality and satisfaction. In other words, your perception of a product is based on comparisons between different manufacturers. To form an opinion about a brand, you need to focus on the brands you trust, know what you like, and decide if the products and brand look are attractive.
From a competitive standpoint, branding works as an important part of a business strategy. When you see a product you like without a design or a familiar logo, do you recognize the product of a certain trusted brand? Probably not.
All elements of a company (eg logo, color, fonts, images) act as a psychological trigger or stimulus to associate and think about the brand.
Branding shapes the human perception of attractiveness and trust. Thus, it becomes an asset, encouraging consumers and constant sales. This helps increase the company's cash flow and create a brand image that customers can truly rely on regardless of time and place.
"A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well." - Jeff Bezos.
The brand allows companies to distinguish themselves in the market from competitors. Building a brand is about creating an identity that distinguishes them from others - this is a logo, name, and business model. Consumers look for characteristics in a brand that meet their needs and desires. If a brand satisfies them with one product or service, consumers will choose other products of the same brand in the future.
Branding assists in developing a new product, helping to expand the product line, and drawing on the consumer's perception of the values and character represented by the brand name.
In the long run, people develop strong relationships with some brands. It is a complex mix of trust and emotional aspects. This is exactly what we know as brand loyalty, you need to have a strong brand to develop that kind of loyalty. Any new business should strive and work to build that kind of loyalty.
A brand can have a beneficial effect on consumer behavior. For example, there are two products with similar characteristics and quality. One is a well-known brand and the other is not. Most likely, customers will choose a brand that already has its history, loyal customers, and cares about a high reputation. Thus, by buying a product from a well-known brand, the consumer feels involved in something more.
A brand is important because it not only makes an unforgettable impression on consumers, but also influences their purchasing behavior. This is a way to differentiate yourself in the market and show why customers should choose you. The brand plays a vital role in improving commercial performance and it is a tool that can positively change people's buying behavior.
We hope that in this article we have revealed how the brand affects consumer behavior and how important it is for any business. It is almost impossible to run a successful business without effective branding. Brands have a significant market advantage because people want to associate themselves with successful companies and be involved in their activities, this inspires customers to buy again and again.