Branding in it simplest form is the mark or symbol linked to a product, service and company. However, branding goes beyond the mark, branding is creating positive values, attributes and qualities that are associated with a product or service. It is the physical act of creating tangible and intangible attributes such as logos, colours and shapes, whilst inducing intangible values such as emotional bond with a product or service.
The net effect of branding is to differentiate your product or service from your competitors.
Branding consist of three components:
The brand is the manifestation of all three components of branding. It is only when all the components of branding are aligned, that a brand progress from a collection of attributes to become a true brand. The brand must exceed customer expectation emotionally and physically in order for the product or service to be successful.
The key elements of creating a brand are:
Branding require all employees to be active participant, from answering phone calls to delivering a service. They must communicate and deliver consistent brand values to all customers.
A strong brand gives a company competitive advantage by engaging customers on an emotional level. When you look at brands such as Nike and Apple, you can see how this is realised through consistent branding, and embedding the brand in their target audiences’ subconscious. The overall aim is to achieve brand recognition, leading to brand loyalty, which in turn means repeat business.
Branding can be applied to any business, service or product. Retailers, service businesses and businesses of all types and sizes can benefit from branding.