In a previous blog, we have discussed the factor of guarantee while deciding the brand. In this blog, we are going to look at the other psychological factors which provoke consumers to go for a branded product.
- BRANDS PROVIDE PEACE OF MIND: Consumers want comfort, happiness, and satisfaction in their lives, and they get it in part through the products they buy. If the brands they use consistently deliver a positive experience, consumers form an opinion that the brand is trustworthy, which gives them peace of mind when buying.
- BRANDS SAVE DECISION-MAKING TIME: So you are in the market for a new HDTV and decide to search Amazon. You type in “HDTV” and get 101,685 results. How do you cull the list down to a manageable number of choices? You choose a brand. Type in “Samsung HDTV,” and you reduce your choices to 1,319. Picking a brand helps reduce the clutter, making it easier to find what you are looking for.
- BRANDS CREATE DIFFERENCE: Any grocery store aisle has more product options than anyone can reasonably consider purchasing. What allows us to select one peanut butter brand over another or a generic product? Branding helps define—in an instant, with a minimum of thought—what makes your product different and more desirable than comparable products.
- BRANDS PROVIDE SAFETY: People, by nature, generally avoid risk and seek safety. Imagine you’re on a business trip in an unfamiliar city, and you need to pick a restaurant for dinner. You’re most likely to pick a national restaurant brand over a local one because you’re familiar with the national brand. It’s a safe and predictable choice because you know what to expect. Brands offer safety and reduce the risk of disappointment.
- BRANDS ADD VALUE: Why do consumers pay higher prices for brands compared to unbranded or generic products? Is it better quality, the look, and feel, or is it the brand’s stature in society? It’s probably a combination of each. Successfully branded products make more money for their companies by commanding premium prices.
- BRANDS EXPRESS WHO WE ARE: What smartphone do you own? What car do you drive? What shoes do you wear? The brands we use make a statement about who we are and who we want to be. People become emotionally attached to the brands they use and view them as part of their self-image. Apple’s classic “I’m a PC / I’m a Mac” campaign shows how brands can reflect the personalities and self-perceptions of their users.
BRANDS GIVE CONSUMERS A REASON TO SHARE: We all have opinions about the things we experience, and we like to share them with others. Whether it’s a good book, a good movie, or a great meal, we become brand advocates when we share positive brand experiences. In our increasingly social world, we have more opportunities than ever to spread the benefit of our experiences. Strong brands give consumers a reason to share their experiences.