If you're taking your business seriously, you've undoubtedly already been tossing around brainstorming ideas on how to market your brand to increase exposure. Are you sure about what Branding is?
Don’t worry! This blog will lead you to know what branding is and how it can change your business conquest. Before understanding branding, first, we all need to know what products and brands are. Let’s go!
What is a Product?
The product can be physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.
Considerably, a product can be anything; that is offered in the market for consumers to satisfy their wants or needs.
To make it so apparent, the definition of branding will play a role in defining products. Now by taking the example of water:
Each & every human being requires water to live and survive. Even so, water is a free resource. Yet it became a product the day humans and companies began commercializing it. For instance, by selling mineral water in a glass and plastic bottles, it became a product.
But isn't the appearance of water always the same? It is translucent and liquid. How then can multiple businesses sell the same product while persuading customers to buy their bottled water rather than the competition?
The answer is: by creating a Brand.
One of the most crucial elements of multi-product marketing is branding.
Most companies choose whether to offer a product under its Generic Name (the name of the product's category, such as Fan, Pen, etc.) or under a Brand Name (such as Polar Fan or Rotomac Pen).
It would be very challenging for marketers to identify their items from those of their rivals if goods were marketed under generic labels.
Therefore, most marketers give their products a brand name in order to identify and set them apart from those of their competitors.
What is Brand?
It is a product manufactured by a particular company under a particular trait. So the brand may be a name, term, design, symbol, or any other feature that identifies one seller’s goods or service as distinct from those of other sellers.
Brand plays a tactical way in every person's mind. It may be a concept, idea, or image that consumers have in a sense when considering particular goods, services, and endeavors of an organization, both practically (e.g., "the shoe is light-weight") and emotionally (e.g., "the shoe makes me feel powerful")
Brand is a combination of physical and emotional cues that are triggered when exposed to the name, the logo, the visual identity, or even the message communicated.
A common example of Coca-Cola and Pepsi. Their taste was very similar however due to some reasons most people prefer to connect with Coca-Cola and others to Pepsi.
Thus the product can be easily copied by competitors in a market but the brand will always be unique.
Let's again go with our water example. The product sold is water, but in order to convince people to purchase particular water, companies developed different water brands, such as Bisleri, Kinley, or Aquafina. Each one of these brands is providing a different meaning to the product water:
Bisleri - With Added Minerals
Kinley - Trust In Every Drop
…and so on.
When it comes to “Branding”, it is the strategy and process of giving a strong meaning of the specific organization, company, products, or services by creating and shaping a brand in customers' mind. This is done by combining such design elements as logo, mission statement, and theme throughout their marketing communications.
Persuasive branding helps companies and organizations differentiate themselves from their competitors by building a loyal customer base.
In a Zendesk survey, 87% of consumers said consistent branding across all online and traditional platforms was significant.
The objective is to attract and possess loyal customers and other stakeholders by furnishing a product that is always aligned with what the brand promises.
The wrapped up of a brand is a person's perception of a particular business or product. Everybody invents their own version of it, and some brands increase or decrease in popularity depending on how customers feel about them.
Companies tend to employ different tools to develop and shape their brands. Branding, for instance, can be accomplished by:
- Brand definition: goals, values, promise
- Brand positioning statement
- Brand identity: name, tone of voice, and visual identity design (which includes the logo design, color palette, and typographies…)
- Advertising and communications: TV, radio, magazines, publications, billboards, outdoor ads, website, mobile apps, etc.
- Sponsoring and partnerships
- Design of Product and Packaging
- In-store experience
- Workspace experience and management style
- Customer service
- Pricing strategy
Now that you know the importance of branding, you may also want to know who is the best branding service provider to boost your business.
Partner with us, EVIEKA, for all your Branding Services. To know more just click on the link: https://www.evieka.com/
Conclusion :
In simple words -
- a product is what you sell;
- a brand is the perceived image of the product you sell;
- branding is the strategy to create that image.
Hope this article helped you to get a clear idea of what branding means and how it impacts your business growth.
Kindly share your thoughts/comments:
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