Hello everyone, As I have noticed that most of us got confused about what is branding? So no need to worry, I am here to help you with what is branding and its importance.
Before knowing anything about the branding lets know about the product because generally, we do branding for products and services.
Product is any good and services, or idea that can be offered to a market to satisfy want or need.Product Definition –
To understand this in a better way, we will use education as an example by defining branding.
Education is the thing which is necessary for everyone and the government provides it for free. But still, we can see private companies have commercialized it. They attract people to admit their children to private schools. On behalf of providing good quality education than the government schools. And people do admit their child into it.
As we know the government provides free education to us isn’t it? Then how can different companies attract students and their parents to admit them in their private schools so merely? How come different companies sell the same product by convincing people to purchase?
It happens by creating a brand.
A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellersBrand definition-
In simple terms, we can consider a brand as the idea or image people have in mind. When they think about some specific products, services, and activities of a company, both in a practical and emotional way. For example- practically the Apple mobile has a good quality camera, processor, the apple mobile makes me feel rich. So, therefore, it’s not only the logo, design, or symbol which makes a brand. But also the feelings that consumers develop towards the product or company.
A product can be easily copied by other players in a market, but a brand will always be unique. For instance-Nike shoe and Adidas shoes, both are shoe brands. But however, for some reason, some people feel more connected to Nike and some towards Adidas.
let’s adorn this again with the shoe brand’s example. The product sold is a shoe but to convince people to purchase a shoe, companies developed different shoe brands. For example, Nike, Adidas, New Balance, Asics, and each one of these brands provides a different meaning of the product shoe.
- You can stop sport’s -Nike
- Change is a team sport-Adidas
- A speed commercial-New balance
- It’s a big world go run it-Asics
At last, a brand is a person’s own instinct about a specific product and company. Each person creates their own form of it, and some brands got to increase and decrease their popularity. Because of how a consumer perceives them.
What is Branding?
Branding is the process of creating a strong positive perception of your company and its product’s in your customer’s mind by integrating such components as logo, design, mission statement, and constant them throughout all marketing communication.
Branding objectives :
Identity and image
The company should consider that how they wanted the consumer to perceive their brand.
The company should have its brand recognition by identifying its specific attributes over another brand.
It’s a marketing term that describes the consumer recognition of a product by its name company should maintain that.
It can be happened through creating an emotional and rational attachment between a brand and a person.
If Company will maintain its brand loyalty the loyal consumer will continue buying the same brand.Ex – FMCG products.
A company should have a brand ambassador who speaks about the company positively. Ex-Free Fire Game (Ronaldo).
A company should maintain brand equity their value in the consumer mind.
It is actually measured on the basis of generated total sales revenue of the company can be high or low.
The company should give the margin to the consumer to retain them.
How can branding be done?
Branding can be accomplished through by creating –
- Brand definition:- purpose, values, promise
- Brand positioning statement:- for example-just do it (Nike).
- Brand identity:- name, tone of voice, visual identity design (which includes the logo design, colors, typographies)
- Advertising and communications:- TV, radio, magazines, outdoor ads, website, mobile apps
- sponsorship and partnership’s
- Product and packaging design
- In-store experience
- Workspace experience and management style
- Customer service
- Pricing strategy
Let’s take the example of Nike – They Use the emotional branding advertisement technique of Heroism to inspire incredible customer loyalty all over the world.
Check out our next blogs on brand equity-