Branding, is a type of marketing practice where a company creates a name or a symbol or even a design that can be easily identifiable, about the belonging of the company. The brand acts as a true representation about the individuality of the business, and the way the business wants to flourish, this can be perceived from the brand of that particular company.
A brand concept consists of the core ideas behind a company's branding that pull together its purpose and goals. A brand concept is all about how a brand makes you feel, which becomes the base to build an entire brand and marketing strategy.
“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” - American Marketing Association.
Brand can be conceived as an idea or an image which people will have in their mind when they think about specific products and services or even the activities that are associated with the company.
Therefore, this is just not about the physical feature which creates a brand but moreover it impacts the feelings of the consumers who develop belief and trust towards the company or to its product. This physical and emotional sign is triggered when they visualize the name, the logo, the identity, or even listen to the message communicated.
There are many identical products that flood in the market, but brands are always unique. For example, Coke, Himalayan Products, products of Amul, there are similar, but not identical products of these ‘brands.’
“Branding is endowing products and services with the power of a brand” - Kotler & Keller.
Branding is identified as a process of giving a meaning to specific organization, company, products or services by creating and designing an impact in the minds of the consumers. This is actually a strategy which is designed by the organizations which help people to quickly identify and experience about their brand, which eventually gives them a reason to choose their products over the competitor’s product.
The features of Branding are as follows –
For a brand to truly be successful the needs are required to be focused as being competitive in today’s world is very important. A company has an entire team who is working behind a brand, to make that a hit. A successful brand goes beyond consumer expectations to give a competitive edge cutting to the industry.
To create an identity of the brand, the creation needs to be highly distinctive from the other. The world’s most popular brands, like the Apple, Starbucks or the BMW cars have successfully created this impact in the minds of the customers. Take for instance the Apple product which is renowned for its technical approach to design and technology gets appreciation for the innovation in their products. Starbucks, promises about the services across the globe. Hence, we see the brands have a distinctive approach always.
Being consistent is always the catch. It is highly important for the company to remain consistent to the devotion it does to create the brand. They should maintain the flow of efforts. Consistency will help the customers be familiar with the brand.
The greatest brands in the world are always supported by the leaders who have the power to inspire, and continually aspire for its greatness. This works the same for a sports team, and hence also for a large corporation or a small business, the most successful business ought to have an influential leader backing them.
The functions of Branding are achieved by a consistent effort. There is a whole team backing up the process of Branding and making efforts to keep a continued effect on the minds of the customers. Branding is totally a mind’s game hence, it is the mind that will help the branding to achieve its function effectively.
The features of branding are the actual function of branding as well, as the concept of branding is only dedicated as an overall process. The functions done by branding are as follows –
Value Setting and Centering.
1. How to Remain Consistent About the Process of Branding?
Ans. Consistent is the blood that flows in the process of branding, consistency can be achieved by continuing to give the equal service and standard products to the customers to maintain their brand image, else they will land nowhere if continued efforts will be stopped. Consistency can also be approached with timely actions to the queries and problems faced by the customers.
2. What is the Image of Apple in Terms of Leadership?
Ans. When we think of the brand Apple, we immediately think of the great leader behind this that is Steve Jobs, being an extraordinary leader, he taught us many valuable lessons about strength and leadership. Thus, the company gets a different amplitude of value for this great leader. The values and the vibe created across the industry of Apple is unmatched to any other brand. Thus, we see the impact of influential leaders in the process of branding.
3. What Does the ‘Value Setting and Centering’ Function of Branding Tell?
Ans. Branding is a way of life that a company possesses in its brand formation. The company needs to set the values. A company’s branding process reaches far beyond the visualization concept and creating creative slogans. Branding covers the values that an organization truly believes in. Then the values are to be centered to the organization’s base to make an effective operating procedure.
4. What are the Steps of Branding?
Ans. Branding follows these steps:
Defining how the business wants to be perceived.
Organizing the brand based on the perceived value.
Communicate the idea and the values which formed the ideas.