Importance of Brand Awareness

Importance of Brand Awareness

Importance of Brand Awareness

Brand awareness is a process to estimate as how much the customers are familiar with the brand and product. In other words, it is the degree to which the customers relate the brand with the specific product. It is means through which customers familiarize with the brand and recognize the brand. The company measures brand awareness as how much does the market have knowledge about the brand. Brand awareness is one of the intangible elements of marketing. Brand awareness can be enhanced by choosing the brand names in simple manner which is easy to spell and remember with distinctness and uniqueness from other competitors.

Brand awareness is highly associated with high profit margins for business. Customer’s purchasing decisions are based on brands for products. When the customers are aware of the brand, immediately the brand comes in their minds when a purchase of specific product is done. Brand awareness plays a vital role in brand equity.

Brand awareness has different channels of promotion such as advertising, word of mouth, social media and blogs and launching events. A robust brand image, slogan with catchy words is essential to promote brand awareness. Brand awareness leads to high sales in market and profit shares. The two types of brand awareness are Brand Recognition and Brand Recall.

Brand Recognition:

Brand recognition is customer’s ability to recognize the knowledge of the brand through earlier noticed or heard. It is a sort of identifying your brand from list of brands when the product category is mentioned. Familiarity about the brand to customers is essential for brand recognition. Brand recognition is important for newer markets and to companies which has lesser presence in the market.

Brand Recall:

Brand recall is customer’s ability to remember the brand when the product category is given. It is a sort of recalling or recovering a brand from his memory. It is easy that customers would recognize the brand but very difficult to recall the brand. It is a kind of measuring as how far the customers are able to recall the name of your brand without seeing the product list.

Brand recognition and Brand Recall are important for awareness of the particular brand. Brand awareness can be promoted through referral traffic, share of voice, branded searches and social share of voice through web.

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