From the article “Why Bother Building A Brand?” www.powerhomebiz.com/102005/brand… here are ways branding translates into profit:
1. Memorability. It’s easier to remember the branded company than the “what’s its name?” one.
2. Loyalty. When people have a positive experience with a memorable brand, they’re more likely to buy that product or service again than competing brands.
3. Familiarity. Psychologists have shown that familiarity induces liking, and this makes even non-customers more likely to recommend a brand they know.
4. Premium image, premium price. Branding can lift what you sell out of the realm of a commodity, with customers willing to pay more for the well-branded product or service.
5. Extensions. With a well-established brand, you can spread the respect you’ve earned to a related new product, service or location more easily
6. Greater company equity. Making your company into a brand usually means that you can get more money for the company when you decide to sell it.
7. Lower marketing expenses. Although you must invest money to create a brand, once it’s created you get a bigger bang for every marketing buck using it.
8. For consumers, less risk. People tend to choose the brand-name supplier over the no-name one when afraid of the consequences of a mess-up.
For those reasons and more, branding fattens your bottom line.

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In the past the 10% bonus would only be paid if the company was profitable however, last year they scraped this rule and said they would guarantee the bonus regardless of profitability. Now that the management have run the business into the ground the taxpayers are footing the £1billion bill. When will we see sense and force this Scottish bank to sell its brands and then close it down.

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