Brand image is the overall impression of a product that consumers have.
Branding differentiates the brand name from the competitors’ brand names. It is the process by which companies distinguish their product offerings from the competition. The way in which a firm differentiates itself from rivals. Branding is a form of differentiating a firm’s products from those of its competitors.
Brand image starts with creating a brand which is the name given by a business to its product or the range of products.
What is brand image?
Brand image is an identity given to a product, or the range of products, which gives it unique personality of its own.
As branding distinguishes the company’s brand from its competitors’ brands, it can create a powerful perception in the minds of consumers having real influence on marketing. It can give one firm’s products a unique personality.
The particular brand image can be influenced by many factors, such as the quality of your brand’s products, the impression your firm makes through its marketing activities, levels of customer service, etc.
Types of brand image
Brand image can be positive, neutral or negative. Positive brand image is the most desirable.
To create positive brand image, a business organization may linking a brand to a favorable image such as a recognizable world event such as The Olympic Games, successful sports, the lifestyle of the rich business, the famous movie star, etc.
Here are a few companies known for their positive brand image: Coca Cola, Mercedes-Benz, Armani, Dell or Starbucks or Apple.
How brand image helps to increase sales revenue?
Creating a unique favorable brand image is so powerful that it can increase a business’s sales and revenue.
Consumers recognize the product more easily when looking at similar products. Therefore, they will choose that particular brand they are very familiar with and think positively about it.
Products from companies with positive brand image can be priced higher than less well-known brands with neutral or negative brand image. Additionally, high prices can be maintained for longer.
It is easier for businesses with good brand image to launch new products onto the market. It is because consumers have already known and trusted. They are more likely to try your new products than buy from an unknown brand. Positive brand builds customer loyalty.
Finally, producers and suppliers will have a stronger negotiation position with retailers who know the brand. They will want to add the famous brand to their product portfolio to generate reliable sales.
In short, brand image refers to how customers perceive your brand and how they feel about their experience with your business.
