We live in a world that is extremely brand conscious. According to some research, India is perhaps one of the most brand-conscious countries in the world. A logo or a name ain’t a brand. The brand is something much more than this.
Branding is a process that helps in creating a specific individuality of its own by a specific name, logo or a prestigious image of a specific product. Anything and everything is done to attract consumers through advertising with a unique theme. This helps in promoting the sales of the product. Watching the advertisement, the consumer gets attracted to it and takes a particular step in buying the product.
Giving a name or meaning to a particular organisation, firm, company or product by creating a brand in the consumer’s mind is what we probably call branding.
The marketing activity of creatively shaping a consumer’s mind with strategy and a well-crafted model of grabbing any consumer’s attention for selling products is the prime aim of branding.
A unique selling practice and communication skill that sets the product or service different from others is one method of top branding services. Various techniques are involved in it like – logos, jingles, taglines, mascots.
The steps of branding include a marketing team that helps in building the company’s brand. To determine the target consumer, there are various strategies involved in branding, such as
- Choose a catchy slogan, a logo or a jargon
- Try to determine your targeted consumer
- Try to figure out your product by positioning your business
- Be an excellent communicator so that you can convince your targeted consumer in buying the product
- Be confident and fluent in your approach
The various branding includes:
- Retail branding
- Online/offline branding
- Business/Product branding
- Service branding
- Personal branding
- Geographic and cultural branding
- Corporate branding
- Product branding
Branding comprises various features such as
A targeted audience helps in planning branding. Business managers must recognise the type of consumers who are ready to buy their products and services. However, research should be performed based on gender, age, income, preferences of the customers, their lifestyle is also included.
The number of consumers who are already aware of a particular brand. This is known as brand awareness. The companies that are highly reputed and prestigious have their own set of consumers as the company is well-established and has the advantage of the high status of brand awareness.
There are various mediums through which brand awareness can take place like – TV, radio, social media which includes Twitter, Facebook, WhatsApp. Other mediators are newspaper and marketing, which play a pivotal role in the promotion and publicity of the product. The former one is more efficient and less time-consuming.
The highest achievement or apex of any company is its loyalty. A consumer who extensively buys his products from a particular company with no grievances or misconduct is what we call brand loyalty. According to the preference of each consumer, the brand works because he/she has faith in their services.
For instance, products such as Amul, Colgate or LUX have a separate group of customers as they use these brands and they immensely derive benefit and satisfaction from these products. Certainly, many brands ask for reviews or feedback from their customers which helps them in improving their products and hence, makes them more efficient.
A brand demands consistency. To keep flourishing, a brand needs consistency and focus. Small businesses who make many promises in advertisements and commercials about the goodwill of their brands should live up to their promises and enhance their product by making them effective.
Branding is one of the significant parts of a successful business. It’s the way you present yourself and the impression you present in front of your customer which counts. However, one should keep in mind that his/her brand defines the tastes and opinions of the seller and it’s a direct reflection of what a consumer should expect from you.
There are various benefits of branding. Some of them are given below :
- In a saturated market, it is branding which helps a small business or creative entrepreneurs.
- A good brand has a very clear cut purpose which helps one to stand above the crowd in the competition
- The first impression is and always will be the ice-breaker.
- If you appear as a professional or an expert in the field. There are more chances of success in what one is trying to convey.
- Branding means consistency. One should be consistent, and one has to decide quickly to show to customers his experiences.
- Branding can boost your morale and confidence level. If people see you are confident in your disposition, then people will trust you and your job.
- Towards moving ahead in life, branding gives a clear cut strategy. With a sound strategy, one can determine whether their services are in line with the brand’s mission and goals.