Today i came across news article on brand and importance of brand for a company.It tells that the logos and taglines are a part of the bigger picture,which businesses can't do without-branding.Branding is defined as a means of creating an identityfor a product or service by a manufacturer.Branding makes the consumer think if it will suit the customer even before he has tried it.
There is a battle for occupying the potential consumer's mindspace-to tell the customer why and how it is what will fit the bill.For some it could be about the ease of availibility,for some the image it denotes,and for some the aspirations it meets.
World is full of competition and it has become imperative for each manufacturer to try and stand apart from the clutterso that the potential consumer is pulled by it makes that purchase.For repeat customers it gives a sense of belonging.Different kinds of media are print,TV and even the internet.
THE IMPORTANCE OF BRANDING
The companies today are putting in a significant part of their annual budgets into marketing,advertising and creating brand value of their products and services.Three statges involved are creating,building and then managing a company's brand equity.Consumer relate to the brands,they choose whatever suits their own association with a particular brand and what meets their aspirations.
THE ASSOCIATIONS AND ALIENATION
While some brands have understood how times have changed and have changed accordingly-or not,thus creating the lineage value,others have failed to keep their ear to the ground and found that they have alienated the consumer.As a result,the association with consumer fell short and the customer has shifted their loyalties to another brand that has wooed them and assured them that their aspirations and expectations will be met.
Brand differentiation plays a significant role here.It runs the risk of alienating a section of society,it makes sure that the consumer's aspirations and demands are addressed.Examples are soft drinks,automobiles,etc,talk about evrything that is peppy,current affordable and impressive.
ITS NOT JUST THE LOGO
It's the image of your productthat is potrayed through a logo.Experts point out that the business name is equally important.The company as a whole,the byline makes equal difference in the marketing programme.To conclude,brand is more than a logo,a name and a byline.It's like an orchestra singing the same note,making the same music you hope will be heard by the consumer.It's a corporate identity.
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