The importance of understanding the difference between the terms branding and marketing in order to ensure your company reaches its fullpotential through the successful implementation of a product’s life cycle.
What do the terms branding and marketing mean? Aren’t they similar in nature and origin? What role do branding and marketing play in a product’s lifecycle?
Contrary to popular opinion (or should I say, my understanding), marketing and branding are not the same thing; in fact, they are very different concepts. There are many important differences between the concepts of branding and marketing; however, before we discuss them, let’s have a look at a formal definition of both the concepts. I am a firm believer of putting the precise definitions of the pertinent terminology on the table before we continue with the discourse. In this way, any confusion between the terms will be cleared up right at the beginning of this article.
What is branding?
Branding is loosely defined as the process involved when creating a unique name and image for a product. The aim of branding is to establish a distinctive and powerful presence in the marketplace that will attract and retain loyal customers.
What is marketing?
Marketing, on the other hand, is the process through which products and services move from conceptualization to their end goal which is the customer. Marketing is an integral part of your brand. You can’t sell your brand to its target market without involving a marketing strategist.
The development of a product from beginning to the end is usually handled by a branding and marketing agency like BrandQuest. It can be handled in-house by the company that wants to develop the new product; however, it is far better to outsource the product life cycle from the conceptualisation phase right through to the point where the product is ready for sale.
The differences between branding and marketing
Even though the concepts of branding and marketing are similar, they are also very different and play different roles in the product development process. In order to gain a full understanding of what marketing and branding are, let’s have a look at the differences between these two concepts:
- A brand is the unique identifier that differentiates one company’s product ranges from another company’s products. Marketing helps your company build awareness about its brands.
- Branding comes before marketing in the product development life cycle. You have to define your brand before you can market it to your customers.
- The principles and concepts of branding stay the same unless you need to rebrand your product; conversely, marketing methods will always evolve in response to current market trends.
- Branding generates a timeless connection between the product and the customer. Marketing is what drives sales. A product can be marketed and sold without a brand; however, its highly likely that the sales numbers will be less than if the product is branded.
- A brand build customer loyalty to your products. Successful branding is what ensures that customers keep returning to buy your product. Marketing, on the other hand, is what alerts your customers to the existence of your brand.
Now that we have established that it is important to consult a professional brand and marketing strategist during the process of developing a new brand, why don’t you reach out BrandQuest at http://brandquest.com.au/brand-strategy in order to see what they can offer you?