Regardless of advertising or other assistance, the consumer is aware of this brand. A high level of awareness reaches many generations and customer groups.
It is profitable and has extremely solid financials. It may either finance existing or new initiatives internally or secure relatively simple external financing.
Its price, whether high or low in comparison to the competitors, is favourably acceptable. Starbucks charges a premium for a cup of coffee and people gladly pay.
Recognized as Unique
It is simple to identify not just because of its quality, price, or kind, but also because of its capacity to be distinctive and stand out as a label. A Bugatti car and a Rolex watch are two examples.
Admired & Cherished
It is regarded as a status symbol. It corresponds to human notions of trust and preference, and it stands for something significant, on the move and ahead in the race.
This brand is not readily switched by customers. They would prefer postpone its use than adopt a replacement that is as excellent or better and less expensive.
Attracts All Alike
Everyone wants to be a part of the brand. It is regarded elite to be connected with, whether for job or commercial purposes.
Synonym to Product
It refers to a product or service. It becomes a buzzword, and people prefer to wear it as a fashion statement. Examples include Googling it or getting me a Kleenex.
Consumers want to talk about it and speak pridefully about their ownership. It has been suggested to friends and relatives.
It has the ability to easily grow into new market sectors. Coca-Cola can more easily start and thrive as a restaurant chain than a totally new brand with no commercial history.
Leads Market share
It has the highest market share in its category. This may be in terms of volume or value.