Definition: The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products .
There is a lot of confusion around branding, there are multiple definitions, so what is branding? Decades ago branding was defined as a name, slogan, sign, symbol or design, or a combination of these elements that identify products or services of a company. The brand was identified of the elements that differentiated the goods and or service from the competition. Today brand is a bit more complex, but even more important in today’s world of marketing.
Your brand strategy is how, what, where, when and to whom you plan on communicating and delivering on your brand messages. Where you advertise is part of your brand strategy. Your distribution channels are also part of your brand strategy. And what you communicate visually and verbally is part of your brand strategy, too.
The Importance of Branding
A strong brand is invaluable as the battle for customers intensifies day by day. It’s important to spend time investing in researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer.
YourThe brand is a foundational piece in your marketing communication and one you do not want to be without. Brand is strategic and marketing is tactical and what you use to get your brand in front of consumers. That’s why it carries a great deal of importance within a business or organization as well.
Brand serves as a guide to understanding the purpose of business objectives. It enables you to align a marketing plan with those objectives and fulfill the overarching strategy.
The effectiveness of brand doesn’t just happen before the purchase, but it’s also about the life of the brand of the experience it gives a consumer.