What is a brand? Decades ago, the brand was defined as a name, slogan, sign, symbol or design, or a combination of these elements that identify a company’s products or services. The brand was identified from the elements that differentiated the goods and/or services from the competition. Today, branding is a little more complex, but even more important in today’s marketing world.
Branding is the marketing strategy used by companies to differentiate their products from similar offers. It is especially important for small merchants who do not have the promotional resources of large competitors. When a product has a name, appearance and unique image, it is easier for buyers to find it in a saturated market. A strong brand identity can also affect consumer behavior by building emotional connections and reinforcing shopping habits.
It is the perception that a consumer has when they hear or think about the name, service or product of their company. That said, the word “brand” is a moving target and evolves with consumer behavior. Think of it as the mental image of whom you as a company representative to consumers, is influenced by the elements, the words, and the creativity that surrounds you.
After we have chosen well the combination between letters, numbers, words, symbols, and colors, which we think is the best, we must register this brand since it is the security we have against the law, of the constitution of the business itself, which gives us many benefits.
First of all, let’s say that in case someone wanted to do a better or worse imitation than what we sell, we have all the weight of the law in our favor to be able to discourage anyone since it will not give any kind of result. Second, it automatically becomes the main asset of the company, since through the brand you can grant royalties, sponsor events, sell shares, or even make the entire transfer of the company only through the brand without sell any other good.
The importance of branding is to create a brand value
The value that sellers add to the basic characteristics and functions of their product. Often this value takes the form of a brand personality and image with which consumers feel an emotional connection. For example, the Disney brand imbues all its products with a healthy, child-oriented personality that sets them apart from other entertainment alternatives. Similarly, Hallmark sells more than greeting cards, and its brand image conveys love and family unity.
A strong brand is invaluable as the battle for customers intensifies day by day. It is important to spend time researching, defining and developing your brand. After all, your brand is the source of a promise for your consumer. Your brand is a cornerstone of your marketing communication and one you do not want to do without. Brand building is strategic, marketing is tactical, and what you use to get your brand to consumers. That is why it is also of great importance within a business or organization.
The brand serves as a guide to understanding the purpose of business objectives. It allows you to align a marketing plan with those goals and meet the overall strategy. Brand effectiveness not only occurs before purchase, but it is also about the brand life of the experience it brings to the consumer.