Branding and branding are important components of any company that plans to grow and expand its influence in the market.
In this article, we will talk about branding and its components and how it affects a company’s position among competitors and the target audience.
What is branding
Branding is the creation of a positive image of the company, its distribution and consolidation in the mind of the client.
In simple words, it is brand management.
A brand is a trademark, a company mark and its name.
Branding includes a whole complex of marketing activities to develop the image and strengthen the long-term relationship with the consumer.
Thanks to it, a unique style is created, the value of the product is increased and confidence in the company is formed.
Apple, Ikea, Coca-Cola and Google are examples that are known all over the world and illustrate why branding is so important.
Consumers know these names and can immediately tell what products these companies offer on the market and why they have gained such popularity and love.
And it depends on how firms position themselves in the market and what emotions consumers evoke.
Every year Coca-Cola launches a New Year’s Eve commercial with a tune that’s already recognizable from the first notes,
and it always features the famous truck that brings treats and gifts from the company.
This video is associated with a sense of celebration and a cozy evening with friends or family.
Why do we need branding?
Let’s break down the purpose of branding and its objectives.
The purpose of branding
The definition of “branding” comes from the Latin word “brand” – branding. In Europe, since ancient times,
began to brand the products with brand marks, so people know who made the goods. With the move to an industrial scale,
the range of products on the market has grown considerably.
Because of this, companies tried to distinguish themselves from their competitors through branding.
In fact, the seller was offering the potential customer not just a product, but an entire ecosystem of consumption
– the image and life of the character that the company was broadcasting.
The company influences emotions in order to cement a positive brand impression,
increase loyalty and turn the user into a regular customer and brand advocate.
If the goal of branding is the final result we should arrive at, the tasks are the steps to achieve the final effectiveness.
Generate a positive image around the company’s products or services.
To show the high value of the products.
To create communication between the company and clients.
Develop a concept of brand positioning in the market – verbal and visual identification of the goods.
Choose marketing channels and develop a promotion strategy.
Highlight the competitive advantages.
Give identity to the brand.
Branding should show the importance and value of your product to the audience, as well as make the company stand out among competitors.