Brands are a clear means of differentiating a company’s products and services from those of their competitors.
There is plenty of evidence to prove that customers will pay a substantial price premium for a good brand and remain loyal to that brand. Companies such as Microsoft, IBM Coca-Cola and Walt Disney have, without question, achieved global marketing success. As consumers, we feel loyal to high profile brands and just a glimpse of their logo has us reaching into our wallets to buy their products/services.
Businesses that invest in and sustain leading brands prosper whereas those that fail are left to fight for the lower profits available in commodity markets.
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