Key benefits of branding to marketers and organizations

Organizations have discovered that brands are perhaps their most important assets for several reasons. There is increasing evidence and consensus that strong brands deliver value to businesses.

The key benefits to ORGANIZATIONS are as follows;

1. Increased profitability
2. Increased clarity of vision
3. Decreased price sensitivity
4. Increased customer loyalty
5. Increased revenues and market share
6. Increased stock price and stakeholder value
7. Additional negotiating leverage with business partners
8. Increased ability to attract and retain high-quality employees
9. Increased ability to expand into new product and service categories
10. Increased ability to mobilize an organization’s people and focus its activities

The key benefits to MARKETERS are as follows;

1. Brands are an effective way to secure a sustainable, competitive advantage
2. Brand allows for an increased likelihood of a repeat purchase
3. Brand allows improved identification of the product
4. Brand increases the ability to differentiate products
5. Brand can positively impact all marketing tools
6. Brand facilitates the introduction of new products
7. Brand is a real way to build customer loyalty
8. Brand provides a means for legal protection
9. Brand offers a source of financial return
10. Brand allows for segmentation

Reference: Brad Vanauken (2015). Brand Aid: A Quick Reference Guide to Solving Your Branding Problems and Strengthening Your Market Position, second edition, American Market Association: New York