Brand awareness represents the likelihood that a person recognizes a company’s service or product. For a business, creating brand awareness is certainly an important step when promoting a product. This is especially true when a company is releasing a new service or product, or simply to help differentiate your service or product from your competitors.
Companies with a stronger brand awareness are more likely to succeed in business and enjoy higher sales. For example, you are probably more likely to select a well-known restaurant chain while traveling, as opposed to taking a chance on an unknown local restaurant. Brand awareness provides a sense of safety and familiarity to customers, as well as a consistent quality of the product they can come to expect. Brand awareness can be obtained through a number of means, such as traditional advertising, sponsorships, giveaways, and other marketing techniques. The strategy that you choose will largely depend on the type of service or product your company is offering.
There are two main types of brand awareness that marketers usually identify, which are the brand recall and brand recognition. Brand recall is the ability of a person to recall a brand name when prompted with a type of product. For example, if you are asked to think of a brand of paper tissues, Kleenex may be the first brand that comes to mind. In some cases, brand recall can become so strong that the brand itself becomes colloquially used as a replacement for the actual product name itself. This can be seen in cases such as people referring to bandages as Band-Aids. Brand recognition, on the other hand, is the ability of a person to identify a brand when presented with its logo, packaging, or some other physical characteristic.