Brand Awareness is all about how a customer is able to recall or recognize the brand under various situations. It is the Key perception in a Consumer Behavior which can be studied and analyzed through effective advertisement management and brand management. Creating brand awareness is the first and foremost step in advertising a new product or bring back the old one into daylight. Consumers are believed to hold between three and seven brands in their consideration set across a brand range of products or services. They typically purchase one of the top three set as consumers have shown to buy only familiar or well established brands.
In a nutshell, Brands are competing in a highly globalized market, where the awareness is the key indicator of competitive business or market performance. To ensure a product or service’s success, the Awareness is to be monitored right from the introduction to its declining life i.e., Market Launch to Market Decline.
The Marketing Plan should possess the important focusing factor of Brand Awareness because the Brand is the audience / customers’ first impression and plays a vital key role in building a recognizable brand and a sense of community with the consumers.
The Brand builds Loyalty and consumers are supportive of the business and the product/service. Current segment of customers share with others forming potential customers. It helps to formulate through effective social media and digital marketing. Digital marketing with its various channels give-a-way for sharing the business profile with everyone and it’s very important to be consistent with branding so that the company stands out and becomes recognizable to viewers.
The huge aspect of all kind of marketing when it comes to build a brand is the LOGO. A Good logo that is on-brand with the business is an undeniable start to build the awareness.
A Brand awareness campaign may yield several benefits within your market viz., a) Current and Potential Segment of Consumers can keep the brand in the mind, b) Word of Mouth – Consumers becoming your ambassadors, c) Increases brand loyalty that boosts the ultimate goal of higher volume of sales. Regardless of the method you decide to use when creating your brand awareness campaign, consistency will be a key ingredient to its success, and a reliable positioning strategy enables that.
Having a thorough understanding of the elements of positioning allows you to plan the most appropriate objectives, address your target with the right messages and choose the proper communication channels. Allowing your defined positioning to outline and guide your brand awareness strategy will make the most of your promotional efforts and help to achieve the goals set for your business.
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