Why Brand Recognition Is Important?
Why Brand Recognition Is Important?
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Brand recognition is important for the following reasons:
1. Competitive edge: If a consumer can recognize your brand over your rivals, it is a great competitive advantage for you as they may prefer your products over others.
2. Improves product marketability: It means that when people can recognize a particular brand, they are willing to purchase it and think it is okay to pay premium to avail the product of that brand.
3. Enhances brand equity: Brand equity increases with more and more people being able to recognize a brand.
4. Increased market share and sales: With the increase in repeat purchase, sales of brand goes up and the brand gains more market share.