What is Branding
There are some misconceptions about branding, a while ago before the rise of the internet branding was simply defined as a business name, slogan, sign, symbol or design, or a combination of these elements, that a consumer uses to identify a company’s product or service.
Today brands are a bit more special, in this decade a brand is the perception that a consumer has when they hear or think of your company’s name, service or product. a brand is characterised as the interaction that your company has with its customers, if your customers believe your product or service is magical, then that is what the customer will attribute to the brand. if your packaging is beautifully illustrated, then they may view your brand as luxurious and sophisticated. on the flip side if your customer service is poor, this could translate into the product itself, by the customer not trusting the product.
Branding is also the way your business product or service image is marketed so that it is recognizable by more people, especially when there are many other companies offering the same product or service
The importance of branding
A solid brand is very important as there are more and more businesses offering the same product or service, which makes the battle for customers even more important.
Your brand is the foundational piece of your marketing strategy, it is what you use to get in front of your target audience, therefore it is of upmost importance to any business. A brand can serve as a guide to understanding your business objectives which can be used in the overall strategy of your marketing plan.
Branding is your strategic approach while marketing is your tactical approach.