Brand development is the result of being the eyes and ears of a company, product or service. Without this constant vigilance, the objective of attracting and retaining loyal customers by delivering a product that is always aligned with what the brand promises, loses its competitive advantage.
for Consumers: a brand provides a decision-making-shortcut when feeling indecisive about the same product from different companies.
for Employees/shareholders/third-parties: Besides helping consumers to distinguish similar products, successful branding strategies add to a company’s reputation. This asset can affect a range of people, from consumers to employees, investors, shareholders, providers, and distributors. As an example, if you don’t like or don’t feel connected to a brand, you would probably not want to work for it. However, if you feel like the brand understands you and offers products that inspire you, you would probably desire to work for it and be part of its world.