BRANDING IN MARKETING

As rightly said, "products are made in factories but brands are created in minds of the audience." Branding is the process of creating a strong and positive perception of your company. In simple terms, BRAND for a company is like REPUTATION for a person. Branding is one of the essential parts of marketing and it is said that a brand can establish itself only with great marketing strategies.

In this blog, we will be covering functions, elements and importance of branding, followed by some companies with great branding strategies and do you know section.

ELEMENTS OF BRANDING IN MARKETING:

1) Brand Name - It is the part part of brand which can be uttered. Eg. VIM, AUDI etc. It is always suggested that your brand name should be short, simple and easy to pronounce.

2) Logo - The part of brand which gives an image to it is logo. It is the symbol of the company and is a really important element of branding. Its importance can be realised by, I say MERCERDES, the first thing that comes to your mind will be a circle divided into 3 sections right. This is how logo works.

3)Tag line or theme line - A tag line is the one which gives explanation about your company in a single line. A good tagline generally has a great impact on consumer's mind. OKAY, So i want to know the full form of LG..... It is LUCKY GOLDSTAR and not LIFE'S GOOD.

4)TYPOGRAPHY - The typography a company uses is also an element of branding. Eg an 'E' slanted backward, the first thing you imagine is symbol of DELL.

5)SOUNDS - Sounds also play an essential role in the establishing a brand, Do you remember the MICROSOFT XP voice when PCs were switched on.

6)Image - A person's image too can become a brand identity. Eg the MCDONALD'S mascot.

7)Color - Use of unique colors is also an element branding. Eg Mastercard.

8)Graphics - We can also use various graphics for branding as well.

FUNCTIONS OF BRANDING IN MARKETING:

1) BRAND POSITION - Branding helps your brand to get a position in the market and also targets a specific audience by making them aware about your products.

2) BRAND PROMISE - Whenever you will look at a stong brand brand you will see a promise. A promise related to the quality, a promise related to be a family and various other such promises. This is what branding do.

3) BRAND PERSONALITY - Branding gives a personality to the brand. Its logos, images, mascots and all gives a real personality to the brand.

4) BRAND STORY - GOOD branding tells the story of the company to people. This is the power of branding that it reaches a mass audience and tells everyone its story without speaking.

5) BRAND ASSOCIATION - Branding makes the people associate to the brand. It makes them feel as a family and leads to customer satisfaction.

also read: how good advertisements look like

IMPORTANCE OF BRANDING:

1) Creates consumer preference for the product.

2) Generates increased revenue and market share.

3) Helps the company survive temporary crises.

4) Increases employee productivity.

5) Helps in creating a favorable market.

6) Makes remarkable brand image.

DID YOU KNOW:

1) ITC, one of the major companies of INDIA was named as Indian Tobacco Company, but currently it does not have any full form as it states that the name does not match with its workings.

2) OLD SPICE, before its re-branding was a brand preferred by older generation while other brands like AXE targeted the younger generation. In 2008, OLD SPICE CAMPAIGN helped the firm attract younger generation.