Marketing and branding are two concepts that can be used interchangeably. But these two concepts are different from each other in terms of their scope. Thus, one can say that branding and marketing are part and parcel of business’s success because they work in connection.
Branding is a broad term that not only encompasses the motto or tag line only instead, it takes into account each and every detail such as slogan, colour or even font style. On the other hand, marketing refers to range of tactics and strategies that a company or business firm deploy to promote its product or service.
Besides, branding is one marketing principle that helps define the brand’s core line or message. Although both are equally important for the success of a company’s and its market presence. Marketing is a more general and broader term, whereas branding relates to a unique and individual aspect that adds vigour to one’s marketing campaign.
Branding vs. Marketing
Although the term “branding” appears to be a way of marketing, it encompasses an idea of the overall personality of a brand, such as its logo, mission, vision, and everything related to it. The importance of branding can be estimated because one cannot carry out a successful advertising campaign without branding.
The identity and personality of a commodity are equally crucial in reaching the hearts and minds of the consumer. This can only be made possible through branding because the latter provides an identity to a product. Otherwise, the product would merely be a commodity, a generic product without its unique and individual personality. For instance, Harley Davidson is a brand that brings forth the idea of mobility through its tagline, “Screw it, let’s ride”.
Why is Branding Important?
What is more important? Although both marketing and branding are the essential components of a company’s overall strategy to establish its name in the market. But marketing is a more diverse term related to a company’s overall scheme of tactics to endorse its presence.
Whereas branding implies how one can strategically shape the image of a product that may result in enhancing its identity. It means to advertise the message of a business in a peculiar way. It calls for a decisive campaign in order to create a demand for the product.
It acts as a pull factor in developing a brand’s loyalty among the consumers.
A particular slogan or tagline may capture the consumer’s perception. Sometimes a motto or tag line of a product creates an everlasting impression in the mind of customers that is likely to motivate them towards purchasing it.
Branding is Capturing the Perception
Besides that, branding also helps nurture the consumer’s perception and image of the product. It is through branding that customer develops a sense of loyalty and affiliation.
Once the consumer has developed their loyalty to the brand, they are more likely to consider that particular brand while making choices.
Thus, it helps nurture a customer’s long-term relationship with the brand. The reason is that once a customer develops trust with a particular brand, they become a loyal customer. As we can see, most of the time, people pay for the brand rather than the commodity.
Branding Develops Distinct Identity
Thus, one can say that branding is the most important aspect of marketing because it adds key value to the product in a customer’s eyes. In other words, it helps establish a distinct identity of a product. It is like a core message or motto of a product that marks its distinctive identity in the market. For instance, there may be various substitutes for that particular commodity, but the brand name and promise let the consumer decide.
Branding Creates Customer Retention
It is necessary to establish a brand that promotes customer retention. Customers that are loyal to your brand could be your finest advocates by telling their friends and family about that now. According to customer referral specialist Grace Miller, personal referrals are trusted by 92 percent of potential prospects more than any other type of marketing. Given this, we can see how important it is for your brand to stand out from the competition and deliver on its value claims. Customers are more likely to refer your products and services to other potential customers if they have a positive experience with your brand. A referral campaign would also be highly beneficial in this situation. This type of marketing activity helps raise brand awareness, establish trust and credibility, and strengthen consumer loyalty and relationships.
The core values of a company should be integrated into the message of the brand so that it may attract customers. In this regard, branding attempts to create a uniform and consistent experience of a customer with the product. As a result, companies spend millions to maintain the consistency of their brand perception and image so that it can strike with consumers. Thus branding gives credibility to the business’s value and mission statement.