Businesses today operate in an increasingly saturated marketplace where they are constantly vying for the consumer’s attention and mindshare. Whilst branding has always been a critical part of businesses, it is even more important today than ever before. With social media, the Internet and the age of pushing curated content to relevant consumer groups, consumers are able to research on options at the instance’s notice which inevitably makes it harder for businesses.
Some challenges that businesses may face without a differentiated brand and aligned marketing may include:
- Inability to stand out from the crowd and thus unable to communicate its value proposition.
- Becoming a victim of transactional relationships typically becoming a player in the price war game.
- Challenging to raise prices as customers do not acknowledge added perceived value.
- Inability to attract talent as the business is not perceived as an employer of choice.
