It is always important for an entrepreneur to create a brand. Customers often pay for a product’s brand instead of its functionality.
Redbull is a very successful brand. It aims at producing high level carbonate drinks. Although teachers may hate it very much, students love it and willing to pay more for it. A brand having good stance can create trust to customers and they are willing to pay more for your product. This is how a brand becomes so powerful. There are many kinds of carbonated drinks in the market at a cheaper price. However, Redbull are still having the largest market share.
For long term development of a business, entrepreneur should invest on the brand and attract customers by it. That’s what Steve Jobs, Bill Gates, Richard Branson did. And now it’s your own turn to create your own brand.
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