Many products compete with one another, so having a brand identity through which a consumer can identify your company and distinguish your products from other products is essential. Brand awareness affects consumer buying behaviour in many complex ways. A brand is more than simply a name that you put on a product; a brand is a certain identity that consumers come to attach to your product through the product's use and advertising.
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Many consumers become loyal to a particular brand and consistently buy it over its competitors. This often happens because a consumer identifies a certain level of quality with a certain brand. A consumer often develops an emotional attachment to a brand. Consumers buy products with that brand because of the positive associations they have developed.
Certain kinds of brands tend to go in and out of style. This often happens with clothing and other purely consumer items such as fragrances. A brand will become popular, and people feel a need to purchase it in order to take part in its popularity. Some brands become popular for a short time, and then go out of fashion again, losing business. Keeping a brand in style can be hard over time.
A brand can have a negative effect on business if consumers have negative associations with it. This can happen if a particular brand has been consistently put on products of a lower quality. Many businesses, such as car manufacturers, have found that after a certain period of time, their products became much harder to sell because the quality of their brand name deteriorated.
Many companies greatly expand their business by using advertising to create a greater awareness of their brands. A successful advertising campaign sticks in the popular consciousness and causes a brand to become more recognised. For example, many humorous commercials have helped put new companies on the map.
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- The Guardian; "Brand Awareness"; Anthony Kleanthous; December 2007
- USA Today; "HP Takes Fresh Step to Establish Brand"; Theresa Howard; April 2003
- The Motley Fool: The Power of Tiffany's Blue Box; Bill Mann; April 11, 2001
- USA Today; "Artsy Revlon Ads Go To Next Level"; Theresa Howard; June 2004
- New York Times; "Taking Its Brand Beyond the Center Ring"; Roy Furchgott; March 2000