Branding Psychology - How does a brand provide intangible benefits, overshadowing its tangible benefits #920418

To establish a long-lasting relationship, the brand offers intangible benefits that sometimes overshadow its tangible offerings. It is becoming increasingly challenging with the proliferation of communication technology, as people strive to stay connected and updated with information. The emergence of branding topics has been evident in recent years, marked by the proliferation of branding categories that apply to both the manufacturing and service industries. A brand is referred to as a logo, symbol, name, or design that creates a trademark or signature that distinguishes goods or services. Creating a strong brand provides additional value that may seem simple from the customer's perspective. Still, it is a significant advantage for a firm to survive in the competitive market. The brand is a crucial element in delivering superior quality products, especially in a highly competitive market. Hence, a trusted brand must not only satisfy customer needs but also deliver superior quality on attributes that matter to customers, such as low cost of quality, overall cost leadership, and effective positioning.