If you search for branding on google you will find hundreds of definitions of it, but simply by definition, it is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company.
You must first understand that your brand does not exist in your marketing department, your public relations team, or your CEO’s office a brand exists only in the minds of your customers and they are loyal to it.
A company’s brands and the public’s awareness of them is often used as a factor in evaluating a company. Corporations sometimes hire market research firms to study public recognition of brand names as well as attitudes toward the brands.
Importance of branding
– One of the most important things of branding is long lasting customer satisfaction and loyalty.
– Improves Employee Pride And Satisfaction by working in a well-known company.
– Increases value by giving the company more leverage in the industry.
– Makes customers loyal to your company or store.
And here are some methods to build a brand
–Branding By Thinking
Typically this approach is used by companies with large and diverse product portfolios like
Coca-Cola, Kraft Foods, Nestle, Gillette.
– Branding By Imagery
Marketers and their agencies closely link the brand to imagery driven by the latest trends and fads in the culture and expressed through art directors, photographers, and commercial directors.
This way of building a brand depends on self-expression Marketers innovate new meanings rather than products.
– Identification branding
The result of successful identification branding is customer-evangelizing content that drives a more authentic message.
Brand building example: LG
LG is obviously not just another electrical devices company. One of their key qualities is a clean design, and a key benefit is ease of use.
From unique packaging to their announcement events, LG always reminds customers that its products can be used for long years.