Products and services are becoming more complex, whether you’re evaluating a new insurance policy or the latest smart phone. Consumers can spend days reading reviews and comparing features and functionalities. However, there are also those customers who don’t have time for this level of research and simply rely on their gut feeling — which is another way of saying that brand perception carries great influence in today’s purchase decisions.
It takes years, a large investment, and a corporate culture backed by business practices built around innovation, quality, customer-centricity, and service excellence to establish a strong brand. The return can be very rewarding especially in today’s increasingly complex world. However, in the era of social networking, even strong brands can be undermined. The impact of social media has only proven that perception plays a much larger role in the power and vulnerability of a brand. See the full article here.
