Brand Awareness & Loyalty

Brand Awareness  

Advertising is seen as an important marketing tactic by which every company can acquire a large customer base and gain a competitive advantage in the marketplace. It is regarded as a priceless asset for any business organisation because it has the power to alter customers' purchasing decisions. Any firm that wants to grow must prioritise marketing and brand awareness. The level to which consumers can identify a product by name is referred to as brand awareness in marketing. The traits that set the product apart from the competitors should ideally be recognised positively by consumers who are aware of the brand. In order to get recognition of a brand, it needs to be advertised to create awareness among people for a product or service. Nowadays, people only go for buying products which are branded and well-recognised by everyone in the society. Well reputed business organisations focus most of their finances in promoting their brands in order to create a sense of awareness of a specific product or service in the society. A company may attract the greatest number of customers and forge profitable, mutually beneficial relationships with them if its brand is handled through successful advertising techniques. When it comes to brand image, customer happiness, and brand loyalty, quality products in the fast-moving consumer goods industry can have a favourable impact on people's purchase intentions. Advertising is an effective tactic to draw clients to the brand and plays a significant part in boosting sales performance for any organisation.   

Types of Brand Awareness  

Customer loyalty, popularity, and sales are determined by brand awareness. The choice between a certain brand being preferred over its competing goods in the market comes down to the perception of the consumer.  

• Brand Recall  

What creates a connection between a product category and a brand is known as "brand recall." In a given product category, the majority of consumers can name three labels, some people remember five, while others only one. This feedback demonstrates how interested consumers are in this particular product category.   

• Brand Recognition  

Consumers instantly recognize brands while browsing the aisles of the grocery store and selecting the item they want to purchase, this thing that helps in the immediate selection and buying process is known as "brand recognition."  

Consumers occasionally struggle to recollect a product's actual name because they believe in buying only a certain brand which is recognized easily by everyone in the society. Even so, they set it out from others through slogans, colours, packaging, logos, or advertisements. The most essential marketing tool which affects the buying process of a particulate brand or service   

• Brand Dominance  

Consumers are said to be extremely aware when they can only think of one trademark from any given product category, as if a particular brand has rented out a space in their heads. With such market dominance, the brand becomes the product for the consumer because buyers equate it with the entire product category and purchase it without giving it a second thought.  

For instance, when it comes to buying shoes, the majority of people simply think of the Nike brand. The majority would be familiar with the brand's spokesperson, its advertising, and even the music used in them. It shows that customers have faith in that company. That is the power of a brand. Advertising of the brand impacts the whole buying decision of the customer, most people are convinced with appealing advertisements and promotion of the brand by great celebrities or sports persons.  

Brand Loyalty  

"Brand loyalty" is a term used to gain customers who are loyal to the company or its brand. Brand loyalty is the consumer's deliberate or unintentional choice to repeatedly buy a brand, as shown by their intention or action. It takes place as a result of the buyer believing that the brand offers the ideal product attributes, image, or degree of quality at the ideal cost. Because habits are secure and comfortable, consumers tend to repeat them. Advertisers need to disrupt old consumer habits, assist people in forming new ones, and then reinforce those habits by reassuring people of the importance of their purchases and enticing them to keep buying those products in the future. The end goal of marketing is to create brand loyalty. To do the same is really challenging. A business should have clear objectives, and it must strive to create a product that fulfills the needs and desires of a customer because eventually, customer satisfaction is the ultimate goal of every business organisation. It should be a perfect product, or you can say it should have the potential to fulfill the customer's desires efficiently, and in today's market, only a perfect product can win over increasingly brand-loyal consumers.  

Case study  

For example, the brand Nike has created a loyal customer base over a couple of years. It is a brand recognized and preferred by everyone nowadays. Over the years, the Nike brand has gained the loyalty of many consumers; typically, sportsmen choose to wear Nike. The reason why athletes continue to purchase the brand "Nike again and over again" is because they believe Nike to be the most satisfying. Philip Knight, a track athlete for the University of Oregon, and his coach, Bill Bowerman, launched Nike, then known as Blue Ribbon Sports, in January 1962. Initially, the business served as a distributor for the Japanese shoemaker Onitsuka Tiger, conducting the majority of its business at track meets from Knight's vehicle. Profits for the business increased swiftly, and in 1966 BRS opened its first physical location in Santa Monica, California, on Pico Boulevard. The partnership between BRS and Onitsuka Tiger was about to come to an end by 1971. BRS was getting ready to introduce its own line of sneakers with the newly redesigned Swoosh.  

.

.