If you’re not aware of the word branding then don’t worry. Because even for some people who have studied marketing can often quickly become confusing. So to understand the topic “what is branding” first we need to know that what is product and brand.
A product can be any goods, services, or ideas that can be offered to a market to satisfy the wants. Example- A product can be anything from a flight, a hotel stays, a car, a language course, clothes, food or any groceries, etc.
“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 sellers” (American Marketing Association).
In simple words, we can say that brand is the unique identifying essence of your business.
Also, you can consider a brand as the idea or image of your company in people’s mind. When they think about specific products, activities, or services.
(ex- that brand of the shoe makes me comfortable)
(ex – that product of company looks so stylish)
Branding is a strategy designed by organizations or associations to help people quickly identify and experience their brand. Amongst all consumers that helps your company to make profit and success. We can also say that Branding can change how people think about your brand,
It can drive new business and increase brand awareness. Sometimes we know the company’s impression due to their branding, not by their quality of their products.
It is not important that branding always shows on the product that sells by any company it can be music, ads, or any image that is related to that company and that helps to make a profit.
At present every company has its own Branding value which shows how the company is performing in the market and also what is the position of the company in the market. The goal of Branding is to link your identity, values, and nowadays every company and organization is spending so much amount on branding. Because if branding will successful then the business of that product will also give so much profit.
So we can say that branding is directly proportional to the increment of their organization. It means if the brand value increases then the company makes a profit and vice versa. at this time making so much profit on the market will not give a name but branding of your own product will create a different perspective in consumer’s minds.
We can say that “your brand is what that other person says about you when you’re not in the room”– Jeff Bezos (Founder of Amazon)
So we can surely say that branding is the root of the success of any company.
Branding creates or impacts a positive impression of your company