Definition: Brand awareness is the degree of consumer awareness of a brand and its related products. It refers to the level familiarity consumers have with a particular brand which may be due to its name, characteristics, logo, differentiated offerings etc.
Example: A company trying to enter into nutritional supplements space engaged with a fitness influencer on social media ahead of the it's products launch. This influencer marketing technique helped the company build brand awareness ahead of its product launch.
Business Insight: Brand awareness serves two functions. It ensures sustainable sales because of the brand value and repeat sales from loyal customer base and also prevents loss of customers to the competition.
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