| Branding carries "seal of quality" |
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Forging a strong brand can carry benefits for small and medium-sized businesses, according to one industry organisation.The Chartered Institute of Marketing (CIM) has said that a well-known brand is seen as a "seal of quality" and can help companies gain the trust of their customers. "A brand is a seal of quality, but it also gains the customer's trust by creating a sense of recognition. Brands help you differentiate," explained CIM spokesperson Ray Jones. He added "Essentially, a strong brand does several key things - it helps you compete on more than price, generates loyalty, and stimulates innovation, and these principles apply whatever the type of business." Technology firm Mirata has said that design is an integral part of branding in the UK, listing it as the seventh most important thing for new firms. Design and branding is rated as the second most important ingredient for firms experiencing a higher than average growth rate.
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