As I was surfing the web I stumbled upon an article talking about branding. What it said was very true about branding;
“If you just build a better product, eventually some other company is going to build a better product than yours, and your stock will fall like Motorola’s did. If you build a better brand, it doesn’t matter whether somebody else builds a better product or not. A better brand has the perception of being a “better product.”
Talk about branding and perception. It’s actually unfortunate that better branding overrules better product though eventually if the product is significantly better and enough buzz is created, it can move over the better brand and create a brand of it’s own.
You know … in college, Professors usually have this question … “Why should companies build brand if they are already on top of their market?”. Well, ladies and gents above quote is your answer.
Not only is branding good for separating your self from the herd (competition), but it’s also a somewhat of a padding that keeps better products than yours on the down low, giving you the time and ability to improve what you currently have.
Those companies that rely completely on their “brand” even when a better product is created in their category will ultimately see defeat as today’s consumer is aware of the better choices.