Why is branding important? Because people often choose products based on their perceived value rather their actual value.
Think about the celebrity who drives an Aston Martin instead of say, a Skoda, which is continually ranked ‘car of the year’ in many European countries and delivers much better mileage at a significantly cheaper price. Sure, Skoda is the logical choice, but it’s Aston Martin’s identity, which conjures images of luxury and status, that usually clinches the sale.
With the right branding, business can increase their product’s perceived value, establish relationships with their customers that span ages and borders, and nurture those relationships into a lifelong bond.