Business continuity and success is the drive to all business procedures and activities. While starting and maintaining a business is tasking, various measures can be taken to ease this process and generate positive results, such as branding and marketing. While the boundaries between these two are often blurred, the distinction between the two is crucial especially in driving sales and building effective communication with the target market, hence increasing revenue.
What is Branding?
This is a set of activities that involve creating a memorable and distinct image, name, sign, logo, slogan or mark to represent business products or services. Brand details created should not only have a strong impression and value proposition to a consumer but should also be easily memorable. Branding hence acts as a product or service marketing tool.
Effective branding should:
- Boost a brands’ credibility in the market
- Deliver the set message clearly
- Connect prospective customers with the product
- Boost customer loyalty to the brand
What is Marketing?
This is the process that brings together a company and the consumers in a bid to exchange products and services. It involves a wide range of activities including creating, exploring, advertising and the delivery of goods and services that are of value to the consumer. Marketing aims at understanding customer expectations of a product or service, identifying the target market, researching on profit aspects, promoting services and products as well as building a relationship between the seller and the consumer.
The marketing 4Ps are the basics in the foundation of the marketing mix.
- Product- This is a tangible or intangible item that is produced or build to satisfy certain needs of a group of people. The right type of product ensures there is a constant demand for the said product.
- Price- This is the amount paid by the consumer in order to use a product. While the price is essential in the determination of a company’s profit and survival, research should be done before setting a price to avoid underpricing or overpricing a product.
- Place- This works hand in hand with understanding the target market. The right place for distribution directly affects sales.
- Promotion- This boosts brand recognition hence sales. It encompasses public relations sales promotion advertising and sales organization.
Similarities between Branding and Marketing
- Both are key business tasks aimed towards increasing revenue generation
Differences between Branding and Marketing
Definition
Branding is a set of activities that involve creating a memorable and distinct image, name, sign, logo, slogan or mark to represent business products or services. On the other hand, marketing is the process that brings together a company and the consumers in a bid to exchange products and services.
Aim
While branding is aimed at building loyalty and trust with consumers, marketing aims at cultivating consumers.
Effect
Branding affects the consumer’s mindset on a product leading to a purchase. On the other, marketing influences on a consumer’s immediate decision to make a purchase.
Value
While branding reinforces a product’s value, marketing promotes a products intended value.
Drive
Branding drives lasting brand loyalty and reputation. On the other hand, marketing drives sales.
End result
While the end result of branding is creating relationships between consumers and sellers, marketing creates a need for the consumer.
Branding vs. Marketing: Comparison Table
Summary of Branding vs. Marketing
Although branding and marketing work hand in hand, differentiating between the two enhances brand loyalty and reputation as well as driving product sales. Branding is a set of activities that involve creating a memorable and distinct image, name, sign, logo, slogan or mark to represent business products or services. On the other hand, marketing is the process that brings together a company and the consumers in a bid to exchange products and services. For a brand to grow, aggressive and effective marketing should be carried out.