The distinctly noticeable brand has the ability to attract customers, it also creates a willingness to buy that brand’s product. However, the degree of brand’s awareness level correlates to the potential of a successful brand.
The perception of a customer when it comes to attractive brands is expressed in a positive association or the relationship with the brand.
- Price premium increases: The customer’s do not mind paying a premium price for an attractive brand than for a technically or functionally equivalent product
- Readiness of cross-selling increases: With additions to the primary product, purchasing decisions extends to include other products under the same brand.
- Increase in recommendations: A motivated customer then recommends the brand to others. Hence, the company’s credibility is rated higher that the company’s brand communication.
- Loyalty of customers: There is a certain kind of inner connection with the brand, their values overlap with those of the brand. Any negative experience, the customer does not discard the brand and the company can continue to benefit from the “Customer Lifetime Value”