Branding is the marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products. Consistent, strategic branding leads to a strong brand equity, which means the added value brought company’s products or services that allows you to charge more for your brand than what identical, unbranded products command. It is the process involved in creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
Branding is also a way to build an important company asset, which is a good reputation. Whether a company has no reputation, or a less than stellar reputation, branding can help change that. Branding can build an expectation about the company services or products, and can encourage the company to maintain that expectation, or exceed them, bringing better products and services to the market place. A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. A brand name is the name of the distinctive product, service, or concept. Branding is the process of creating and disseminating the brand name. Branding can be applied to the entire corporate identity as well as to individual product and service names.
“Branding is a practice…that has always existed above and beyond all other business strategies. It is an organizing principle so broad yet so defining that it can shape and direct just about everything a company does, and, most important, how it does it.”
Scott Bedbury, A New Brand World