Why is this important?

Brands like Starbucks and Dunkin’ Donuts are some of the best examples of companies that realize how important a strong brand is. The hard work they have put into building their brand recognition has allowed them to rightfully charge customers absurd prices for 1 cup of coffee. They have accomplished marketplace acceptance and thrived, eventually becoming market leaders. Other chains have tried to compete but none have been able to build a brand like these 2 companies and are eventually forgotten. Building a brand is one of the most critical elements of a business that wants to achieve massive success.