The American Marketing Association summarily defines a brand “the name, term, sign, symbol, or design, or a combination of them, indented to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors.”
The above definition has shown that branding is essential to the success of any business as it helps to identify a company, implanting the business niche in the minds of the populace. A study has tried to make submissions on the psychological effect of branding on the minds of consumers. This is because potential customers, among the people, are attracted to companies with a well-known and reliable brand, like Ferner Jacobsen.
The right branding will go a long way in affecting potential customers positively. With the right brand, a manufacturer of clothing will not need to worry about the price of the product. Studies have shown that customers are attracted to branded items even though they might be expensive and above their monetary range. This implies that with the right brand in the fashion industry, you will be able to sell at a high price value.
You might be wondering why this is so? It is because the presence of brands will inspire customers to act in a specific way;
· It creates aspirations in the minds of customers
The presence of brands on an item, for example, a clothing brand, inspires the customers to fantasize about getting that particular item. For example, even though there are phones with lower prices, many people fantasize about getting an iPhone, a Microsoft phone, or one in their brand status. For a clothing item, potential customers will visualize themselves in it and would do anything to buy the cloth.
· It alters the intentions of buyers
Contrary to opinions that buyers would only go with clothing items at low prices, you will find that many customers prefer their clothing stores branded. If a well-branded cloth comes in competition with a poorly branded one, customers prefer the former. That is because it is imagined that a well-branded clothing accessory has more quality than one without a brand or that is poorly branded.
· It fits the buyer’s image
Some products are deemed personal and, when bought, are thought to reflect the image of the buyer. The clothing teenagers will go for is different from an adult’s, and this is because of the influences of their different experiences. Customers will go for brands that fit the image and self-concept they have for themselves regardless of the pricing.
· It earns and keeps loyalty
Customers are sentimental towards clothing line with brands. Usually, they will stay loyal to the company regardless of the pricing. With the right branding and a satisfactory customer service operation, the cost of the product becomes immaterial and, in many cases, insignificant.
Summarily, branding encourages customers to see a high price tag as sensible and logical. Many clothing lines, with sites on Norskeanmeldelser, having realized its importance, have spent time, money, and energy on branding.