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Brand recognition is the goal of marketing and business, with familiar names leading to increased revenue and customer loyalty. Advertising in various mediums and creating memorable ads are key, as well as investing in sufficient advertising space.
In marketing and business, a “brand” is a company name or the name of things produced or offered to customers; examples include Hilton Hotels or Tazo Tea. A goal in any business is to make sure these names are familiar to consumers and this is called brand recognition. With clever marketing, the consumer knows the name of the company or its products and services, and this can lead to increased revenue and ultimately other stages of association with brands, such as loyalty to a brand specific.
It is believed that consumers are more likely to choose recognized brands than unrecognized ones. With a choice between getting coffee at a Starbucks or a more anonymous Joe’s Coffee Shop, consumers are likely to drift towards Starbucks unless their brand recognition has negative associations. Since there are many competitive coffee retailers, the goal for each one is to increase brand recognition. This can level the playing field so either choices look good or go further and establish customer loyalty. On the other hand, being anonymous Joe’s Coffee Shop is bad for business, and this shop must strive to become recognizable to more fully compete with better known brands.
There are several ways companies market to gain brand recognition. The standard way is advertising in television commercials, but newspaper, Internet and radio advertisements can also be effective. Where to place advertisements depends on determining who is likely to buy the brand or brand products. This can be variable. A local business is likely to stick to advertising locally, but a national or international business needs to market to a much larger audience.
Simply putting a company or trade mark on it is not always enough. Brand recognition is best achieved when any advertisements created are of good quality and memorable. Somehow an advertisement has to be eye-catching and likely to be remembered. The way to achieve this is also varied. Some ads appeal to emotions, others have a simple tune that people like, and still others rely on stories or images to increase the chances of brand recognition.
In addition to creating advertisements that hopefully consumers will remember because they are good advertisements, companies must be willing to invest in sufficient advertising space. A single reproduction of a major advertisement is not likely to produce much brand recognition. Playing an advertisement can often help the consumer remember the brand when they later purchase the item or services associated with it. In turn, this recognition could prove vital, as customers may be more likely to choose that brand, and if it is of good quality, they may decide to choose the brand repeatedly in the future.
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