Is Grameds aware that the company’s brand name and symbol have a significant impact on consumers’ purchasing power while running a business, whether it’s a food or cosmetics firm? Yes, many businesses are competing to develop a memorable brand name and emblem. This is done to ensure that customers are aware of and recognize products bearing such names and emblems as those produced by the company in question.
That, in a nutshell, is what Brand Awareness is all about. It will surely make it easier for organizations that have been establishing their business for a long time to build brand awareness while also garnering consumer interest, especially for companies that have been building their business for a long time. So, what is Brand Awareness, exactly? What steps may be taken to improve Brand Awareness?
Let’s take a look at the following review so Grameds isn’t perplexed and can assist you in building Brand Awareness for your sector!
Before discussing Brand Awareness, Grameds must first understand what a Brand or Brand is all about. Basically, a brand is a name, word, sign, design, or even a combination of all of these things that is anticipated to identify the goods or services supplied by the seller, and it is hoped that by doing so, they will be able to distinguish them from the products of competitors.
In brief, the purpose of this brand is to help buyers recognize one product from another produced by the same company. It should be mentioned that the existence of Brand Awareness causes most people to refer to specific products by their brand name rather than the object’s name.
Brand Awareness, according to Durianto et al (2017), is the ability of potential customers to recognize and recall the existence of a brand as part of a product category. Then, according to Rangkuti (2014), Brand Awareness is defined as a customer’s ability to recall a specific brand or commercial after being aroused by many keywords.
Meanwhile, Brand Awareness, according to Kotler and Keller (2011), is the ability of a brand to arise in the minds of consumers, particularly when they are thinking about a certain product, and how quickly the brand may be promoted.
According to numerous definitions of Brand Awareness provided by some of these experts, Brand Awareness is the ability or ability of a brand or brand to continually appearing in the minds of consumers so that their products are easily recognized.
What Is the Importance of Brand Awareness?
Brand Awareness is significant since it is a component of a marketing strategy, particularly in the business world. It’s crucial because, in the commercial world, one company will continue to compete with another, especially if they manufacture the same product or service. Consumers will be able to recognize the product and will be willing to purchase it as a result of this Brand Awareness.
Most people prefer to acquire items or services from well-known companies that have been around for a long time and have easily recognizable logos and slogans. Furthermore, if a firm has been around for a long time and continues to develop high-quality products or services, consumers will quickly believe in the performance of a new product because of Brand Awareness.
Aqua, for example, is a drink brand. When most individuals wish to buy mineral water, they invariably specify the brand name. In fact, there are a variety of mineral water brands available on the market, including the Aqua brand. However, because of this Brand Awareness, these folks will always recall the Aqua brand when it comes to mineral water.
Although Brand Awareness has been shown to boost a company’s profit, it must be closely controlled to avoid a profit loss. If there is a reduction in both the amount of consumer “look out” for the brand in issue and the company’s revenue profit, a carefully designed advertising and marketing campaign is required to restore the level of Brand Awareness to normal.
The presence of Brand Awareness also adds value to a product, service, or company, particularly in the eyes of current and future customers.
According to Saputri (2017), it takes a long time to create Brand Awareness in a consumer, starting with brand recognition and ending with consumers remembering the brand.
Brand Awareness Benchmark
Of course, the existence of Brand Awareness has its own benchmark or criterion to measure how well Brand Awareness is recalled by many consumers. Brand Awareness, according to Tandarto and Darmayanti (2017), must have the following criteria:
1. Being aware of what’s on your mind
The first criterion is Mind Peak, which is defined as what brand customers will recall first as a result of the existence of specific brands. In this scenario, customers will be asked which brand in a specific product category they will remember.
most people will say “Tango, Nissin, and Wafello.” Based on these responses, it can be inferred that in the chocolate wafer food product category, the top thought or brand that customers recall is Tango.
2. Recall of the Brand
Consumers will be given multiple lists comprising several brands in certain product categories, and they will be asked to identify which brands are known without any instructions in the second benchmark, Brand Recall.
Tango, Nissin, Astor, Wafello, and Gary, for example, are among the product brands available in the chocolate wafer area. After examining the responses of consumers, it was discovered that the Tango brand is remembered better as a chocolate wafer cake than other chocolate wafer brands.
3. Recognized Brand ( Brand Recognition )
In the third benchmark, Brand Recognition, consumers recognize a brand but are unable to recall it spontaneously, despite having used a product from that brand. In this instance, extra stimulus is usually required to aid consumers in remembering the product’s brand.
For example, a consumer may be given a choice of several chocolate wafer brands before being asked “how many times have they consumed chocolate wafers with the Wafello brand?”