What are the major benefits of a strong brand?
A good brand gives a company several advantages including establishing a positive reputation and building and attractive image that reflects its features. Consumers may view marketing & branding as an aspect of merchandise or services, as it often serves to donate certain attractive qualities or characteristics. From the perspective of name owners, labeled items or services also command higher prices. Where two items resemble each other, but one of the items has no associated marketing (such as a generic, store-branded product), people may often select the more expensive labeled item on the basis of the quality or reputation of the item or vendor. Benefits of good item recognition include facilitating of cool item acceptance, enabling business penetration by advertising and resisting price through quality.