How Branding Affects Buying Behavior
Have you ever taken a long, hard look at the cover of a book before you buy it? If we could guess, we’d say you probably have. By human nature, people feel most comfortable making informed, educated decisions. This is not a bad thing by any means— and it carries some weight in the realm of branding.
According to research studies done by several universities, people interact with brands in a way similar to how they interact with people. We live in a social world filled with outside influences. Brands affect our buying behavior in many ways that we’re now able to understand. Continue reading if you want to find out the ways your behavior has been influenced by brands you interact with.
The Business Dictionary describes a brand as a “Unique design, sign, symbol, words or combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality and satisfaction in the consumer’s mind.” In other words, your perception of a product is based on a comparison between one brand and others. For you to form an opinion about a brand, you must consider the ones you trust, know what you like and decide if the brand’s products and look are appealing to you.
Although corporate branding companies are in the ongoing process of understanding shopping behavior patterns, they know exactly who they want to target and how they are going to target them. Just as branding affects buying behavior, so does a consumer’s age. Young people are more heavily influenced in today’s world where new brands are constantly being created, rather than those who have experienced a lifetime of loyalty and trust to the few main brands they’ve had the most exposure to. Simply put, age is of great relevance in the process of decision-making and buying behavior.
From a competitive standpoint, branding works as a crucial part of business strategy. When you see a product you like without the wrapper or logo on it, would you recognize the product as being from a certain brand you trust? Probably not. Branding shapes human perception of attraction and familiarity. Brands become assets by fostering loyal consumers and ongoing sales. This leads to more cash flow within your company, and a brand image that your customers can truly depend on— no matter when or where. Product branding strategy also provides balance within your business by implementing consistency and protection from being replicated. So here’s how this strategy works, step by step:
- First, marketers influence consumers’ buying behavior by establishing their brand image. This step is all about physical appearance and attraction to the eye, slogans and reputability. Creative logo design is an important point of brand image building when it comes to influencing consumer behavior. Yes, it can be a timely and detailed process, but the results can change the financial projections of your company.
- A strong brand reputation lays a foundation of trust between marketers and consumers. From this foundation, you can expect to influence the purchasing behavior of consumers. Attraction and curiosity about your brand is all it takes to dominate the decision making process. Developing brand awareness is crucial to not only spark the attention of your consumer, but maintain it. Moreover, brand awareness is said to have a multi-faceted approach, having a great affect on buying behavior and risk assessment. Consumers gain confidence in purchasing your products. Once you have mastered the art of stimulating the buying behaviors of your clients, things begin to progress.
- Once your brand identity is established, is recognizable to shoppers and is actively working to guide consumers’ purchasing decisions in the right direction, your company will see an influx of sales and demand for your product. Your brand will grow in commercial value— not only from your product but from the buyers’ perception of your brand. Brand equity will no longer be a concern! It will already be taken care of for you.
According to a recent study, both external and internal factors play a notable role in the decision making process. As much as colors and designs may catch the shoppers’ eye, emotional appeals have an even greater potential of influencing buying behavior. Brands have started to target not just their product, but people too. Marketing strategists know how we think when making purchasing decisions and what leads us into that thought process.
Have you ever been annoyed from people on social media throwing themselves at you, wondering if you’d join their team or try out their products if they give you their very own discount code? I’m guessing you have, maybe more than once.
But that’s the thing— when people are sold on a brand, they represent it with everything they have. It becomes a part of who they are and what they do. Better referred to as brand alignment, this idea goes on around us everyday. Brands are making personal connections with you based on your experiences, and it won’t be long before you develop a mutual level of trust with multiple companies. Inevitably so, your world has collided with the world of brand advertising. Corporate branding companies continue to navigate ways in which they can empower their consumers and boost their self esteem. It’s an easy and very enticing trap to fall into, and we do it every day.
All in all, corporate branding agencies are following your lead when it comes to evolving and shaping your brand’s strategy. Whether emotional or physical, brand strategies heavily influence the buying behaviors of consumers young and old alike. So now, our encouragement to you— be careful who you trust to manage your brand because the details matter. At Station8, we pay attention to the little things and do everything in our power to design your brand to stand out from the rest.