Many business owners might wonder about branding. Is it an effective tool to help you to generate income or make profits?
The answer is yes. Branding can help increase sales in both the B2B or B2C business models. To illustrate, we would like to provide you examples.
For products that have no physical characteristics, branding is considered essential. One classic example is the branding of soft drink brands like Coca Cola and Pepsi. The main product of both brands is the brown-colored carbonated drink. There are many other brands that sell the very same product at lower prices, but it seems that these two brands have been the most successful with the highest market share. Without branding, their names might be unheard of. And although the health-conscious trend has been going strong for quite some time, both brands still thrive. You can see that branding not only boosts sales but also prevents sales from falling in hard times.
Another example for the B2C model is Apple, the most valuable company in the world. The products of the brand like computers or smartphones have similar functions to those of the other brands, but thanks to their branding strategies, Apple makes their customers feel like their products can offer something beyond functionality that you cannot find in other brands. As a result, they can set higher prices for their products and generate more sales and profits.
Branding can also help increase sales for B2B businesses. For example, Intel is a global technology company that doesn’t directly sell CPUs to customers, but does the Intel Inside campaign to create awareness in customers that certain computers are equipped with Intel’s CPUs. This strategy helps ensure that customers get the high-quality products and services.
These case studies are part of endless successful branding stories that help grow businesses. And it also works in niche markets with less competitors.
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