“Branding is simply a more efficient way to sell things.”
-Al Ries
Here are the Top 3 reasons why Branding is important in MikesBikes:
1. Branding increases the effectiveness of your product advertising and results in increased product awareness.
2. In the next period, consumers “forget” the advertising to some extent, but any new branding adds cumulatively to what is left.
Note that branding does not contribute to the effect of public relations.
About half of your brand awareness will carry over from the previous period. The curve shows the increase in brand awareness (on top of what is carried over) achieved by various levels of expenditure.
3. This video is an excerpt from the MikesBikes Advanced Sales & Marketing video, which sums up why Branding plays an integral part in your Marketing strategy.
The same principles also apply in MikesBikes Introduction.
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