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What is Branding?

Branding is a process that involves creating a specific name, logo, and image of a particular product, service, or company. This is done to attract customers. It is usually done through advertising with a consistent theme. It aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers. A brand is a name, term, symbol,  or other feature that distinguishes an organization or product from its rivals in the eyes of the customer. Brands are used in business, marketing, and advertising.

Branding

Differences Between Marketing and Branding

Basis Marketing Branding
Meaning Marketing brings the company and the customers together for an exchange of goods and services Branding is a creative process that helps customers to remember a product by its name, logo, image, etc.,
What does it do? Cultivates customers It builds trust
Influence Motivates customers to buy products immediately Influence customers to buy a product by leaving an impact on their mind
Creates Aims at creating customer need Creates a healthy and strong relationship with a customer
Policy Push customers to buy Pull customers to buy
Generates Needs Relationship
Target Audience Marketing is for business Branding is for Customers
Value Promotes intended value Creates value
Result Marketing results in sales Branding brings reputation

In a management context, branding is a symbolic representation of information associated with a product or service. A brand particularly consists of a name, logo, and other visible features including color combinations, fonts, images, symbols, etc. A brand raises several expectations in the minds of individuals concerning particular goods or services.

Advantages of Branding

To Buyer:

  1. A brand helps buyers in identifying the product that they like/dislike.
  2. Identifies the marketer.
  3. It helps reduce the time needed for purchase.
  4. The buyer may derive a psychological reward from owning the brand.
  5. It helps reduce buyers’ perceived risk of purchase.

To Seller:

  1. A brand distinguishes product offerings from competitors.
  2. Helps segment the market by creating tailored images.
  3. It identifies the companies’ products making repeat purchases easier for customers.
  4. Reduces price comparisons.
  5. Helps the firm introduce a new product that carries the name of one or more of its existing products.

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