Branding vs Marketing: The basics you must know
Branding and marketing are business terminologies that often remain undifferentiated. However, these are two concepts with their subtleties that work hand in hand to develop a successful business.
Gerry Lantzm, Principal at Stores That Work Inc., presents an all-encompassing definition of Marketing as “A two-way exchange of value between a marketer and a consumer by providing the right product or service to the right target in the right state of need and by using the right vehicles for interaction and purchase.”
Put simply, marketing is everything businesses do in order to sell their products and services.
Business Jargons pertinently defines Branding as a “process wherein the firm tries to create a unique image of their product/service in the minds of the customer and establish a differentiated presence in the market with the intent to retain the customer loyalty.”
In the most basic terms, branding is a process of building a brand: name, design, symbol, terms or any other feature that distinguishes products & services from other sellers.
Let’s look into some of the essential differences between them:
Branding begins before marketing
The rudimentary distinction between these concepts lies in the question: When to do what? Prior to launching marketing campaigns, building a brand is a must. Imagine developing a product and advertising to consumers without involving a business name, product name and a descriptive package. Chances are that hundreds of identical products are already being advertised and sold in the market. Why should a customer buy a product that conveys nothing more than just its existence? Therefore, branding precedes marketing.
Marketing is a conveyed message; Branding is a perceived message
Businesses convey the messages that they want to push to the consumers through marketing practices. It is entirely up to a business to choose how they want to show their products to the audience. It could be through descriptive texts, visual or auditory ads, or a combination of them.
Branding tends to be reflective in nature. The consumer perception regarding your business is what shapes your brand. Everything a company does contributes to the branding process of your business. Branding is essentially the experience gained by people through association with your business. Therefore, it is a message perceived by consumers.
Marketing influences sales; Branding builds customer recognition and loyalty
Businesses rely on marketing strategies to attract the attention of potential customers and ultimately boost their sales. These are intended to meet the short-term goals, primarily increasing the sales. Such strategies are generally dynamic in response to the trends of the market.
However, branding is an ever-perpetuating process which aims to build an emotional connection with its consumers. As such, top-notch branding strategy can effectively increase customer recognition and loyalty of businesses.
Understanding of branding is often limited to simply logo designs. There is much more to branding which entrepreneurs must acknowledge. It is an incessant process that ultimately ensures the prosperity of a business.
Wherever Marketing Pauses, Branding Arises!