Why brand matters for enterprises?
Brand distinguishes a product from many other homogeneous products. People can easily choose a specific product from a crowd of products by dint of the product’s branding. Branded products make difference in price, quality, prestige and satisfaction. It matters for both consumers and enterprises. For enterprises a ‘brand’ matters for charging premium price and more profitability.
If I go for providing examples of how brand matters in charging premium prices in Bangladeshi market, I can show many examples of different product categories from different industries. But, here are some examples of Apparel industry’s products about how brands differ in same quality products and how these products can appear differently to the consumers in case of pricing:
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