Brand Management and Growth Consulting :
Brand promotion is a strategy that is commonly used in marketing in order to increase customer loyalty, awareness of products, and sales. Instead of focusing on a specific product or products, a company instead tries to focus on the promotion of its brand. This strategy has been proven to be very effective in marketing and many companies currently employ it. Typically, companies rely on repetition in advertising in order to familiarize customers with the brand.
Companies have used brand promotion for many years and it is still successful in today’s market. With this strategy, one of the primary objectives of the company is to increase brand awareness. When customers become aware of a brand, they are much more likely to give it a try. Brands that are unknown generally do not perform as well as commonly known brands.
Another primary objective of brand promotion is to create customer loyalty. Studies have shown that customers are very loyal to brands. Once the habit of purchasing a brand is formed, a consumer will generally go back to that same brand again and again. There are certain types of consumers who only focus on purchasing the cheapest product in the market; however, many consumers are loyal to brands and may be willing to pay a little bit more for them.
Brand promotion also leads to increases in sales in many cases. Businesses hope that by utilizing brand promotion, they can increase the number of units that are sold and increase profitability as a result. While, brand promotion does not always succeed, businesses that do it effectively are often much more successful than their competitors.
In most cases, businesses try to create brand awareness by utilizing repetition. Typically, the average person has to see or hear of a brand more than five times before it sticks in the mind. This means that businesses try to advertise the brand name and get it out into the public so that customers will become aware of it.