Brand Recognition Definition
Brand recognition is the ability of a consumer to identify a brand over all other brands available in the market. In simple terms, brand recognition refers to the ability of consumers to recognize a product just by its brand attributes.
Building brand recognition involves designing the best color schemes for the product, unique and attractive company logos, other visual elements such as the website, fonts, images, icons, patterns, shapes, lines, and textures that are will complement your brand. All these elements go beyond to create memorable brand recognition.
Brand recognition strategies have the ability to make a brand name synonymous with a product or a service. For example, when you say search on the internet, we say ‘google’ it. When we want to make a copy, we end up saying xerox it. Similarly, when we want to refer to a bandage, we immediately ask for a band-aid.
Brand Recognition Advantages
Strong brand recognition will go a long way in the success of a business. Strong brand recognition helps brands in many ways. Here are some advantages of strong brand recognition:
1. Extends Business:
Brand recognition is significant for a business that wishes to expand and reach out to a large number of customers. A company that enjoys huge brand recognition is accepted readily into new markets and geographies. For example, McDonald’s has established multiple chains in different parts of the world due to brand recognition.
2. Growth in sales:
When a brand has broad recognition, many users identify the brand, thereby increasing the sales of the product. Brand recognition makes it possible to reach out to a large number of customers, thereby increasing the sales number. This automatically improves the revenue of the company.
3. Advantage over competitors:
A well-recognized brand gets more eyeballs from users. When there are a lot of duplicate and similar products available at lower prices, brand recognition makes a product stand out from all its competitors as it is recognized well in the market. Brand recognition offers protection from competitors.
Brand Recognition Example
Ikea is a great example of a company with a strong brand recognition. Customers identify Ikea as a home furniture retailer that offers low prices, great customer experience, giant stores, great advertising and excellent packaging. IKEA is a leader in brand recognition as it is well known by most of the users. Ikea rolls out interesting advertising campaigns which allows the brand to enter into the mind of customers.