Branding is everywhere. As business owners, we know it’s important. However, executing effective branding is easier said than done.

 

Do you have a strong brand?

If you can charge higher than market price for your products or services, you probably have a strong brand. Customers look at your product and know that they will be getting what they paid for.

What are your customers truly buying from you?

Value

Great products with a strong brand are seen by customers to be a great value. Deep down, many buyers believe in the old adage “you get what you pay for.” They are willing to pay higher prices when they know the value is also high. A strong brand gives products and services a higher perceived value than their competition, which increases consumer demand.

Popularity & Recognition

Product lines with strong branding are often very recognizable to the general public. They are used by many people and are perceived as “the cool thing”. Popularity and public opinion greatly contribute to the perceived value of the product. These items can become “status symbols” that give greater benefits to the consumer.

Results

At the end of the day, a strong brand promises to give results. When customers see advertisements for new products or businesses, their first thought is often, “Yeah, but does it work?” Products that consistently provide results year after year leave a trail of happy customers who giving testimonials and reviews that reinforce brand claims. This reinforcement works to strengthen the brand and business itself, making it a trusted name.

So, branding is important.

Do you know how to create this kind of name? Are you a branding guru or a newbie to the game?

PiciLabs has created a new quiz to help you evaluate your current branding knowledge. This evaluation will allow you to assess your current branding skills and give you advice for your next steps.

Take the Brand IQ Quiz Below:

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brand iq quiz