What is Branding?
Branding is the process of giving a distinct identity to a product/service in order to attract customers. It includes giving a unique name, logo, or image to a product/service. Companies use branding to create a unique image in the minds of their customers and to make them aware of the product/service. Branding is a continuous process that helps the company in building long-term relationships with its customers. Branding helps the product/service to stand out in the market by making impressions in the minds of the customers.
Key takeaways from Branding:
- Branding is a continuous process helping the company in promoting its product in the market by making customers aware of the product.
- Branding creates a brand value to convince the customers that their product is different (in good terms) from the other products in the market.
- Branding involves giving the product a unique name, logo, slogan, or image.
Difference between Branding and Packaging
Marketing is a process that starts with having an idea about developing a product or service and ends with after-sale services, performing various activities in between. When a product/service is put into the market, the promotion process plays an important role in increasing profits, acquiring and retaining customers. Branding and Packaging are one of the most important functions that come under the concept of marketing.