Your ability to build brand offers a host of blessings such as customer loyalty, price inelasticity and long term profits. A loyal customer is nine times more profitable as a disloyal one. Further an existing client who is affected by your brand value helps to obtain new clients for you more efficiently through referral that a new one. Building brand does not arrive inexpensively and without time. Research shows that it costs 200 to 400 times more to build brand equity but the long term effects are worth it.
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