“A brand is the promise of an experience,”
said Alexander Isley. A strong
brand is trustworthy promise of
a great
customer experience.
Kevin Lane Keller, the author of a
book on
strategic brand management, lists the following advantages of strong brands:
Greater perceptions of
product/service performance
Greater marketing communication
effectiveness
Greater
customer retention and loyalty.
More appreciative customer response
to price
increases and decreases
Larger margins
Less vulnerability to competitive
marketing actions
Less vulnerability to marketing
crises
Greater trade cooperation and support
Possible licensing / franchising
opportunities
Greater brand extension opportunities