Strong brands aren’t created accidentally. They necessitate concentration, cooperation, and ongoing resources. Building powerful brands has therefore been a marketing priority for many organizations because this is always a pillar of support for the success of a firm. A brand is strong when it captures the company’s pinnacle achievements, makes them palpable across time, and credibly communicates its uniqueness at all brand touch points. The development of a strong brand successfully is related with a number of advantages that have a significant impact on business performance. Some of the benefits associated with building a strong brand include;

Easy introduction of new products

Strong brands are even more crucial since they make the introduction of new products simpler. It is frequently simpler and less expensive to launch new items or test them before investing further in them when a company has a strong brand and devoted customers. Current customers will frequently be interested in new products and even look forward to their introduction if a company has a strong brand following. Proton Bakery is a strong brand when it comes to backing sector. The company has a strong brand and loyal customers. As a result, this makes it easy for the company to introduce new products without facing challenges during introducing stage. This is because this is because the company has loyal customers who are becoming ambassadors to the brand. In this case, a strong brand provides credibility to new products and services introduced which will improve the performance of marketing department because there will no product or service failure. Strong brands enable businesses to use equity to develop new goods or services.

Competitive edge in the market

Strong brands also help businesses get a competitive edge because they differentiate products. A brand is what separates businesses in the marketplace. This indicates that a company’s goods or services can be distinguished from those of competitors thanks to a strong brand. Customers who support and recognize a company’s brand provide it a competitive edge in the marketplace. As a result, this will contribute to the company’s overall performance improvement in the market where it will be active. This is due to the fact that as a firm grows and its brand is strengthened, it becomes more competitive with other well-known companies. For instance, Chicken Inn is a strong brand in fast food sector and it was nominated Superbrand of the year 2023 by Marketers Association of Zimbabwe. The company uses a strong and colorful attractive logo supported by a tagline (luv dat chicken). This in turn assist in differentiating Chicken Inn from other fast food outlets. As a result, this will enable Chicken Inn to be competitive, attract more customers and generate more sales than rivals which improves the company’s performance.

Recruit and hold onto the top personnel

To sum up, people are becoming more and more interested in working for companies that have well-known brands. A business will have loyal customers and loyal staff. Strong brands therefore help to recruit and keep the most talented workers. People will want to work for the companies they respect, trust and often regarded as employer of choice. In this case, a strong brand is built on strong relationship from within and outside the company. For instance, most people are willing to work for Econet Wireless Zimbabwe Limited because it is associated with strong brands. Strong brands also increase employee motivation and sense of belonging which reduce labour turnover in an organization. This is the case with employees in Econet Wireless Zimbabwe Limited. Some of such employee, are loyal to the brand and they have worked for the same company for many years while doing job rotation from one branch to another.

 Increased marketing communication effectiveness

Furthermore, another benefit of strong brand is that they facilitate marketing communication effectiveness. Strong brands increase the recall of marketing campaigns and foster an emotional connection between the marketer and their target audience. Additionally, strong brands facilitate brand communication, which combines customer-facing activities including advertising, social media, and reviews. Every time a customer or client interacts with a certain brand, brand communication occurs. It can be registering for a newsletter or discovering a logo online. For instance, TM Pick n Pay is one of the biggest supermarkets in Zimbabwe. The brand has also many retail outlets across the country. This resulted in effective communication being achieved because the company is using different communication channels such as social media and print media to reach every market segment and this result in increasing brand awareness thus improving the marketing performance of the company.

Strengthen financial performance

The most valuable tangible asset for a business is its brand, thus during the past ten years, management at many companies have given brand development high priority. The value of the brand contributes significantly to the value of the company. Branding and the production of shareholder value are inextricably linked. Companies with strong brands outperform the market on a number of financial parameters after accounting for risks. A benchmark selection of businesses from a major stock exchange, for instance, produces an average monthly return that is less than 1% lower than an investment portfolio of companies with strong brands. Furthermore, powerful brands outperform the market while posing less of a risk. This applies to OK Zimbabwe Limited, a well-known, powerful brand in the retail industry. The value and cost of shares rise when brand equity is strong on Zimbabwe Stock Exchange, which increased corporate performance and made OK Zimbabwe Limited one of the most valued brands in Zimbabwe. This attracted more investors.

Thompson Mhlanga is a marketing and research consultant, member of Marketers Association of Zimbabwe. He holds a Bachelor of Business Studies Honors Degree in Marketing from University of Zimbabwe, Certificate in Foundations of Digital Marketing and Certificate in Digital Maturity and strategy from WAN -IFRA among others. Thompson Mhlanga is Sales and Marketing Executive for 3Ktv which is a broadcasting arm of Jester Media Services. For all of your marketing, brand and research consultancy contact +263785893049 or thompsonmhlanga7@gmail.com.