Brands matter to businesses for the simple reason that it usually follows that building a successful brand means increased revenues. But why do brands matter to everyone else? Why do brands matter to customers? What is it that they value that means they part with their well-earned cash?
The way consumers think about brands is in bundles of ideas. These ideas all mean something. There are five key reasons brands matter to consumers:
1. Brands make decision-making more efficient
2. Brands minimise risk
3. Brands create identity
4. Brands create feelings
5. Brands connect