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1 Answer
- 2 decades agoFavorite Answer
It helps separate your product from the rest of similar products even though their maybe no difference between your products and other products.
Once a company is able to differentiate their product through brand marketing, it becomes easier to "build value" in their product (even though it is no different then their competitors)
This allows you to bend the rules of supply and demand of a market with perfect competition and allows the company to have more control over setting prices vs. all the control being in the hands of the market.
