Branding the basics
In other to know what branding is or what a brand is we would be looking at what a product is. A product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.(Kotler & Keller, 2015). This means product can be anything food, cereal, water, toothbrush, a hotel stay etc. we would use instant noodles to illustrate the definition of a product and the role it occupies in defining branding.
Noodles is what almost everyone likes and children love and different company sells but all in all everything is noodles. So how can different companies sell the same product but still convince people to purchase theirs? The answer is by creating a brand.
A brand is a name , term, design, symbol, or any other feature that identifies one sellers good or services as distinct from those of other sellers.(American Marketing Association). You can look at a brand as the idea or image people have in mind when thinking about specific products, services, and activities of a company, both in practical and emotional way. When talking of brand it is not just the physical but it also entails the feelings the consumers develop towards the company or its product.
A product can easily be copied but what gives it uniqueness is the BRAND. Lets see an illustration with our instant noodles example. The product is the instant noodles, but in other to convince the people to purchase a particular noodles, companies develop different brands, such as, Indomie noodles, Minimie noodles, Dangote noodles, Supreme noodles etc. and each of them provides a different meaning to their products. All in all, a brand is a persons gut feeling about a specific product or company. Each person creates his or her own version of it, and some brands increase or decrease in popularity because of the feelings of the consumers towards them.
BRANDING is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. It is also defined as endowing products and services with the power of a brand.(Kotler & Keller, 2015). Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way in which you are being distinguished from your competitors and give a clarification to what it is you offer that makes you the better choice.
Your brand is built to be a true representation of who you are as a business, and how you wish to be perceived.