Branding is one of the key factors for any business to succeed in this internet age. Whether you own a small, medium or large sized online business, branding is important to beat the tough competition and stand out from the crowd. Branding is much more than simply a logo and a tagline. Instead, it encompasses everything important about a company, depending on the people’s perception about you and your business. Building and managing successful brands is one of the major marketing drivers today. Companies like Nike, Apple and Wal-Mart are the ideal examples of successful branding.
Whether you are launching a new company or a new product, it is essential to build a strong brand in the marketplace to ensure success. Even if you have been in the business for a while, it is necessary to maintain and manage your brand appropriately. If you are into any business, you need to make yourself familiar with branding and its cycle, strategy and importance. Branding is like a person’s fingerprint that shows your customers how your brand is different from its competitors. It involves creating an image for your company or product that reflects your unique style and goal in a way that appeals to your targeted customers.
Brands are promises that the consumers believe and it is all about understanding your unique attributes – your passion, skill, values and your strengths – and using them to separate yourself from your peers and competitors. A strong and efficient brand is a mix of trust, reputation, attention and implementation. They distinguish individuals by creating perception of who they are, what they do best, what they stand for, and how they contribute to the world around them. If people identify your face or know your name, it means they hold your brand image in their minds. As proof, say the name of someone you know and pay attention to the thoughts that strikes into your mind. The set of memories that arise include your brand image of that person. Brand creates an emotional attachments and trust of consumers. As a result, they promote a strong bonding and relationships between consumers and products that endure pricing wars, transcend offers from new competitors and even conquer rare lapses in product or service quality.
Branding is the biggest catchphrase in today’s business world, and the history of branding goes further in time. During the medieval period, the marks of markers parched onto everything from loaves of bread to gold and silver products in order to recognize their origins and integrity.
Ancient ceramic bears marks that resemble brands, causing archaeologists to believe that branding concept goes back far as 5,000 years. Brands began to take on a new and important marketing role in 1800’s. It was during those days that manufacturing breakthroughs led to group production and this was a great revolution in the history of Branding. Manufacturers, who used to present, explain and sell their goods to their friends and neighbors personally, they suddenly start shipping their products off to fend for themselves in different locations.
The concepts of publicity and advertising gain impetus as 19th Century manufacturers worked to build name consciousness, product interest, and product motivation. The purpose of branding remains the same even during the next two centuries that was – to build, maintain and protect a positive image of a brand, awareness and product preference in the mind of consumer.