-
Marketing Strategy-Create Product Branding
Filed under MarketingJul 7What is branding?
The creative services industry has a lot to answer for! Unfortunately there is a huge amount of confusion surrounding branding!
Much of the confusion stems from two scenarios: branding consultants with a limited understanding of marketing, and; advertising and marketing consultants with a limited understanding of branding. Consequently the industry has confused audiences by coining often self-contradictory buzz-words and using them superficially or out of context. Not surprisingly the marketplace is left confused and sceptical.
We have attempted to create some clarity through concise definitions within a consistent frame of reference – a difficult task given to the sheer volume of confusion and misunderstanding that surrounds the topic.
Our definition of Branding is “the process of creating, maintaining, clarifying or changing a brand.
It’s as simple as that.
Branding encompasses much more than the visual realm. It’s the process of influencing the perception of a business or product, and any sensory experience can be used as a branding opportunity. Audible and emotional communication are very much part of the process, and can play a significant role in forming an impression of the company. In competitive environments, or to position themselves as an industry leader, smart businesses harness the impact of all interactions with consumers to differentiate themselves from their competitors and influence consumer perception.
Some interactions or “touch-points” will have a greater impact than others, and some companies decide to sacrifice certain branding opportunities to meet real or self-imposed budgetary constraints. Better to implement some level of strategic branding than none at all.
Why branding
Branding is a powerful and sustainable high-level marketing strategy used to create or influence a brand. It is used to generate a perception of, and thus a response in relation to, a product or company.
The power of perception (a brand) can positively influence buying decision/s by:
* creating an affinity or emotional connection with the consumer
* providing justification for paying a premium price for a service or product
* creating loyalty to the product or organisation
* demonstrating the quality and benefits of a service or product and the company behind itAcquiring more loyal customers (who are happy to pay a premium price) is what many successful businesses strive for, and that’s what the marketing strategy called “branding” is all about.
How can your business benefit from this thing called branding?
Branding creates a brand – and you are branding your business or product whether you realise it or not. The question is “what perception are you allowing prospective customers to form, and is that perception costing you sales by giving them the wrong impression in relation to your competitors”?
High quality strategic branding creates competitive advantage by:
* creating a positive perception in the minds of target customers (and staff)
* positioning and differentiating you in relation to your competitors
* relating to and positively influencing customer buying decisions
* developing, managing, and building the value of your brand
* making it difficult for competitors to match your professionalism or positioning
* positioning companies as employers of choiceBranding can also deliver real internal benefits. It can play an important role in improving organisational culture and unity by:
* clarifying brand values and brand personality
* clarifying who you are and what you represent
* giving staff an identity they can understand and be proud to be a part ofAnd this, most importantly, fosters consistent projection of the intended brand externally.
Why do some think it’s a waste of time?
Sadly, many businesses take a reactionary approach to operating and building their business. Consequently, they never achieve the level of success that is attainable within their market. Many businesses are unaware of the benefits of strategic branding or the business lacks the time or skills to formulate well-engineered long-term plans and strategies. As branding falls into the longer-term category, it is often disregarded as too hard, too costly or even too boring!
Many business owners have no real understanding of branding and the impact it can have on the health of a business over time as well as immediately. They are often unaware of (or refuse to acknowledge) how “that airy-fairy branding stuff” impacts on themselves and others. Consequently they conclude that it’s of little or no value to their business.
But branding has been proven to be one of the most effective marketing strategies available to business, and it’s the smart businesses that make the investment in branding and put it to very good use.
So how do you create a brand?
A good place to start is by developing or clarifying your Brand Strategy or at least creating a solid Brand Foundation.
Related Posts:
Tagged as: Advertising, Brand Strategy, branding, competitors, consumers, creative services, market, Marketing, smart businesses
