Brands are made for making profit. Like imagine you are standing in front of two shops and you have to buy a polo shirt. One shop is expensive and the other shop is cheaper and they have the same shirt.
You must be wondering that the cheap shop owner must have not so comfortable fabric but they have everything same. Then would one suggest that he or she should opt for something expensive for no reason.
We really believe that one should try out brands and see that there is nothing different between the branded clothes and the clothes bought from a regular clothing store. Find here more about how to formulate a brand strategy in Dubai.
If you are about to open any specific brand store then we suggest that you keep reading this post because here we will tell you some stats about brands so that you choose wisely;
- Who does not know Netflix and even though now Netflix does not need any kind of branding. Still in 2018, you will be shocked to know that they spent 1.8 billion dollars on branding.
- Just like Netflix, who does not know about cocoa cola and even the most under developed countries know about this brand but still they do banding as well and you be again shocked to know that coca cola spends almost 4 billion dollars on branding each year.
- The competitor of coca cola is obviously Pepsi and they also spend almost 2.5 billion dollars on branding.
- We always wonder that why huge companies need branding and you will be shocked to know that Amazon spent almost 10.1 billion dollars of branding in 2018.
- Did anyone think about Google? Even the most uneducated person knows about google and still its parent company Alphabet Inc. spent 2.5 billion dollars.
- No matter how much you have limited money on you when you go out for shopping but the stats say that consumers always have the idea of buying from brands and the stats are in 33 percent.
- Colors in the logos are the most important and if you chose the right colors for your brand, you have a chance to be recognized at least 80 percent.
- Brands run due to impression and that is made by the items in the shop or the price.