Branding, by definition, is an exercise undertaken by the marketing department, in which a business creates a name, symbol or design which is readily identifiable as belonging to the organisation. This assists with identifying a product and distinguishing it from other products as well as services.
Branding is also the utilisation of a name, term, symbol, design – or a combination of these – which will identify a product or service.
Why is branding important?
Branding is important as it is not only what makes a memorable impression on consumers, but it allows your customers as well as clients to know what to expect from your organisation.
It is a method of setting yourself apart from the competitors in addition to clarifying what it is you offer which makes you the preferred choice. Your brand is constructed to be a true representation of who you are as a business in addition to how you wish to be perceived.
Branding is critical to a business because of the overall impact it makes on your company. Branding can alter how people perceive your brand. In addition, it can drive new business and increase brand awareness.
What is a brand?
You can look at a brand as the idea or image which individuals have in mind when thinking about specific products, services as well as activities of an organisation, both in a practical (e.g. “the shoe is light-weight”) in addition to an emotional manner (e.g. “the shoe makes me feel powerful”).
It is thus not just the physical features which creates a brand but it is also the feelings which consumers develop towards the company or, alternatively, its product. This combination of physical as well as emotional cues is triggered when individuals are exposed to the name, the logo, the visual identity, or even the message which is communicated.
A product can be simply copied by other players in a market however a brand will always be one-of-a-kind. For instance, Pepsi and Coca-Cola taste very similar but, for some reason, a number of individuals feel more connected to Coca-Cola and others to Pepsi.
What are the advantages of branding?
The advantages to branding would include the following:
- Branding gets recognition.
- Branding increases business value.
- Branding generates new customers.
- Improves employee pride and satisfaction.
- Creates trust within the marketplace.
- Branding supports advertising.
What is the process of branding?
Companies tend to make use of different tools in order to create as well as shape a brand.
The following are the processes through which branding can be achieved:
- Brand definition: purpose, values, promise.
- Brand positioning statement.
- Brand identity: name, tone of voice, visual identity design (which includes the logo design, colour palette, typographies…).
- Advertising and communications: TV, radio, magazines, outdoor ads, website, mobile apps, etc.
- Sponsoring and partnerships. Product and packaging design.
- In-store experience.
- Workspace experience and management style.
- Customer service. Pricing strategy.
If you want to have a brand which is strong, everything that you do has to be qualitative. The employees, the marketing campaigns, the investments as well as all the factors which come into play will have a massive influence on your branding performance. If you want to invest time, focus and money into these aspects, you’ll skyrocket your chances of becoming a big name within your industry.