In the world of marketing, brand image is an important aspect. The success or failure of a business can depend on this image. Generally, a brand does better business when it gains a positive brand image in public. Similarly, a negative brand image in public perception can devastate the business.
For this reason, most companies spend a lot of money to develop a positive brand image in public. However, many people don’t understand what brand image is. Let’s take a deep dive and learn how the brand image works and what are the advantages and disadvantages associated with it.
- Brand image is consumers’ overall impression or perception of a brand based on their experiences and interactions with it.
- It encompasses a brand’s reputation, personality, values, and visual and verbal elements.
- A positive brand image can increase customer loyalty and advocacy, while a negative image can harm a brand’s reputation and sales.
How does it work?
Brand Image is a public perception by which anyone can determine the brand’s quality. As an example, the brand “Rolls Royce” is known as a luxury car brand. Or the brand “Tesla” is known as one of the best electric car brands. A positive brand image can help a company in many ways in a competitive business environment.
Brand image widely depends on public perception. Hence, any positive news associated with the brand enhances its positive brand image. Similarly, any negative news associated with the brand creates a negative image. For this reason, positive and negative reviews can influence the brand image heavily. Brand image depends on various factors, including the product’s price, performance, and reliability.
Developing a positive brand image is quite a difficult task. The business needs to devote lots of effort to making this image. They must build reliable products or services and back them up with quality customer care. However, Irresponsible activities of the brand can diminish this image quickly.
For this reason, most companies worldwide work very hard to maintain their positive brand image. A brand image helps the customer evaluate a brand easily. It is a fact that most people prefer to purchase a product or service from a company that has a positive image.
Advantages of Brand Image
The brand image helps a company build its perception of the public. Over time this perception develops a public opinion about the brand. As a result, the public can trust the brand. The trust and faith of the customers are important aspects of doing long-term business.
Another benefit of developing a positive brand image is that the company can sell multiple products under one brand. In the long run, it saves the company from lots of expenditure.
Disadvantages of Brand Image
Many people believe that developing a positive brand image guarantees success. However, the reality is quite contrary. The public perception is quite finicky. Negative news or reviews about the brand can diminish its brand image quickly. For this reason, every company regularly invests heavily in positive brand image development programs.
Sometimes, these investments pressure the company’s product development and service delivery system. Hence, excessive reliance on brand image development can slow down the company’s growth rate.
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.