Explain why strong brands are important to both companies and consumers​

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Explanation:

Branding simply refers to creation of a name, design or a symbol that helps in the identification of the product of a particular company from other companies.

Branding is vital as it makes a company standout from others, it helps to distinguish ones product from the product of others. It also helps in the improvement of recognition and create awareness to ones customers. With the logo on ones product, consumers can easily identify ones product.

Branding also helps in the creation of trust and supports advertising. A strong brand also generates revenue to the company as it helps in the building of financial value. Branding also helps companies get new customers.

Customers also form a connection with brands. This helps in shaping the loyalty of the customer, building trust and aids customer retention.