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5 Reasons Why "Branding Is Everything" In Business


Just to be clear, branding means "image-building," and the image should be backed by a real quality advantage if it's going to work long-term.

Here are the 5 reasons why branding is crucial to the success of your business:
  • It makes people trust you versus competitors who are unknown, even if they are cheaper.
  • It makes people prefer you to competitors and resist their attempts to woo you.
  • It makes people willing to pay more for what you sell (brand equity).
  • It gives you a cushion to recover from mistakes.
  • It enables you to change with the times because your name is associated with a concept not just a specific product or service.
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Originally posted to Quora by Dannielle Blumenthal, Ph.D. All opinions are the author's own. This is a personal account unrelated to and not sponsored by the author's employer or any other entity. The author shares this content for reuse under the Creative Commons 3.0 License. Public domain photo via Pixabay.

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All opinions my own. Originally posted to Quora. Public domain photo by hbieser via Pixabay.

Nitro Cold Brew and the Oncoming Crash of Starbucks

A long time ago (January 7, 2008), the Wall Street Journal ran an article about McDonald's competing against Starbucks.
At the time the issue was that the former planned to pit its own deluxe coffees head to head with the latter.
At the time I wrote that while Starbucks could be confident in its brand-loyal consumers, the company, my personal favorite brand of all time,  "...needs to see this as a major warning signal. As I have said before, it is time to reinvent the brand — now.  "Starbucks should consider killing its own brand and resurrecting it as something even better — the ultimate, uncopyable 'third space' that is suited for the way we live now.  "There is no growth left for Starbucks as it stands anymore — it has saturated the market. It is time to do something daring, different, and better — astounding and delighting the millions (billions?) of dedicated Starbucks fans out there who are rooting for the brand to survive and succeed." Today as …