Branding refers to a marketing practice in which a company comes up with a name, symbol, logo or design that easily identifies with a company or organization. It is a way of differentiating yourself from your competitors and clearly showing what you offer to make you the best ahead of the rest.
Branding is essential since it creates product awareness but more importantly, change the way potential consumers perceive your products. A well-branded product attracts several customers, which is beneficial to the organization. However, a firmly established brand adds value and builds trust, which gives an organization more leverage in the market. The reason for this is that potential customers have a high likelihood of doing business with a company that has a good and well-known reputation.
Branding gives employees pride and satisfaction. An employee who works for a well-branded company will feel proud of themselves and the company, and thus have a feeling of satisfaction.
A well-branded company will no doubt acquire new customers. This is because perfect branding creates a positive impression about products and services, and thus requiring minimal promotion effort.
In a nutshell, branding is;
• Brand Personality.
• Driving Brand Recognition and Loyalty.
• A Way of Keeping the Customer’s Attention.
• It has an Impact on Both the Customer and the Employee.
• Finally, Branding Always Comes First Before Marketing.
Marketing refers to the action of promoting and selling products or services. It is done through market research, advertising, and delivering products to customers. It involves collecting information about consumers’ needs and preferences.
Marketing is a communication channel whose primary intention is to give information about products or services to current and future customers. A common marketing strategy is through social media platforms, which can be grouped as paid or unpaid channels. Paid marketing involves paying for space to promote a product or service, using photos or videos that pass useful information about the products.
Marketing mainly seeks to get the attention of the customer. This is achieved by carrying out promotions. For example, promoting products through celebrity endorsement, this is where a company looks for a well-known celebrity, then uses them to help market their products.
Whenever people see a star’s presence, they are interested in the product or service and thus gain interest in whatever is advertised. Therefore, promotion is mainly to capture people’s attention to make them interested in knowing more about the product, which eventually promotes sales.
Some well-known entrepreneurs have a wide experience in the field of marketing, such as entrepreneur Ariel Pfeffer, with a BA in Economics from the University of Uruguay. Born in I960, Ariel Pfeffer has established several online platforms to sell goods and services. His tremendous knowledge of marketing strategies and techniques, along with 35 years of experience, has enabled him to excel in marketing his products and services in Latin America.
Marketing is a significant factor in determining the competitive advantage of a firm. For a firm to be successful, it is essential to develop marketing strategies that will ensure that a firm reaches out to its potential customers.
In a nutshell, marketing is;
• Seeking for Customer’s Attention.
• All Tools Used to Communicate the Message of a Brand.
• Creating Content and Coming Up With Strategies to Drive Sales.
• A Way to Build Customer Engagement to Either Increase Sales or Promote
• Finally, Marketing Efforts are Shaped by the Brand’s Foundation. Thus, it comes after
Branding entails building or creating the right name or reputation for a company, marketing, on the other hand, deals with trying to sell out or promote the products and services of a firm. Branding and marketing are very vital when it comes to selling a firm’s products or services. If done in the right way, it ensures that an organization gains a competitive advantage over the rest, resulting in increased sales and profits.