Have you created a new brand and new to creating brand management strategy? Read out here about brand vs branding. It will include Definitions and concepts.
Creating great brand strategies is highly specialized, painstaking, creative, and resourceful work. You need to maintain these brand strategies over time. Adapt them to the consumption habits of a market as global as it is competitive. Ensure that these strategies transmit our know-how and the DNA of our company to the consumer.
What is a brand?
If you search the Internet you will see that there’re many brand definitions, but some of the simplest and clearest could be the following:
· “It may be the name, term, design, symbol or some other characteristic. It offers great recognition of the good or service. It differentiates the products or services from others.”
· “It is the badge or sign that the manufacturer puts on the products. Its use belongs exclusively to it.”
However, none of these definitions reflects what a brand really is. They only refer to formal aspects, but a brand is much more than that. In general, these definitions respond more to the trademark concept than to the brand concept.
Different perspectives of a brand
We can describe a brand from various views and in various ways. Let’s read a few of them here:
· Normally, we can state that a brand means many aspects. They are recognized to an offer and that produce an opinion of it.
· We can examine it from the internal (company) perspective. A brand is a feeling of the objective that a company has and the commitment. It has key relation with its stakeholders (employees, customers, etc.).
· We can consider it from the external (public) perspective. A brand is a thing that people feel, say, think and share about an object or subject. It may be a service or a product, an individual, a company, a town, an organization, etc.)
· From a management point of view, a brand means a set of things. If managed properly, it makes the products or services unique. It produces links with customers and produces values for the society and company.
As we see, there’re various more ways to get closer to what a brand is. The definitions are not so important. But, it is more important o know how to handle it properly so that it provides value. We must understand well what a brand is from the beginning. We don’t need only to see it from its graphic or formal aspects. Without it, we’ll not be able to organize it well, nor make an adequate brand strategy.
Branding: what does it consist of?
Instead, branding intends necessary actions to create a definite brand and to generate brand value. Therefore, company managers must ensure that their brand:
· It effectively conveys the marketing and corporate strategies.
· Connect with the motivations, expectations and desires of your audiences.
· It has the capacity and the path to last over time.
· Generates economic value.
A solid brand strategy is created with differentiating attributes. It can position us in an increasingly saturated, globalized and competitive market. It is essential for survival and success. To do it rigorously and professionally after knowing brand vs branding , call our branding experts at WAI.