Brand awareness. This is a term most people would have never heard of including professional businessman. That does not mean it is not important though. Brand awareness is the measure of the probability that consumers of a certain product in the market are well educated about the product itself and various aspects about the product such as life and availability. Brand awareness is more of a business related concept that includes consumers rather than a consumer related concept. It deals with how well consumers associate a particular brand with the product it produces. It is a concept that is measured in terms of previous knowledge about the brand in its own markets. Brand awareness can be classified into two namely, brand recognition and brand recall. The former is the measure of how well a consumer can recognize a particular brand from their previous experiences. Brand recall, on the other hand, is how well a consumer can recall information about a brand from memory. Brand recall is measured through giving a specific category or subclass of products to a consumer sample and calculating which brand has more recall, i.e; more popularity amongst consumers. Business should streamline their advertisement campaigns such that consumers can recognize their brands more easily and can choose their brand over others when buying a product. However, brand recognition is said to be an easier process than brand recall as recognition happens instantly while recalling a brand from memory takes a bit of time.
Brand awareness has such a significance when it comes to consumers and their products that just by naming a brand with an easy to pronounce name will make that brand more appealing to consumers. Consumers themselves develop colloquial names for a particular brand when it is popular enough. The best example for this may be Coca-Cola which is known among consumers as Coke in the recent years.
There are two main kinds of brand awareness:
Top of the mind awareness: This is the awareness that a the consumer gets when the first thing on his mind is your brand.
Aided awareness: This is a more easy brand awareness method as a product line is mentioned from which consumers choose a particular brand of their liking.
From a business point of view, brand awareness is very important as it will help a business have more volume of sales since their brand is more popular than other brands. This article will help an everyday consumer to learn how business work to create brand awareness for their product which will make it easier for you as a consumer to make an informed decision as to which product to buy among the available choices.
Every business survives only because of strong business equity and the best way of increasing the equity of a business is awareness and popularity which is where brand awareness comes in. Brand awareness is not only through advertisement as word of mouth and promotions play a major role as well. Some huge businesses have reached this point only through word of mouth. As the internet is all prevalent these days, a strong internet presence is also crucial to build better brand awareness.