[Commerce Class Notes] on Branding Pdf for Exam

Branding is a type of marketing practice where a company creates a name or a symbol or even a design that can be easily identifiable, about the belonging of the company. The brand acts as a true representation of the individuality of the business, and the way the business wants to flourish, this can be perceived from the brand of that particular company.

A brand concept consists of the core ideas behind a company’s branding that pull together its purpose and goals. A brand concept is all about how a brand makes you feel, which becomes the base to build an entire brand and marketing strategy.

Branding

“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” – American Marketing Association.

A brand can be conceived as an idea or an image that people will have in their minds when they think about specific products and services or even the activities that are associated with the company.

 

Therefore, this is just not about the physical feature which creates a brand but moreover, it impacts the feelings of the consumers who develop belief and trust towards the company or in its product. This physical and emotional sign is triggered when they visualize the name, the logo, the identity, or even listen to the message communicated.

There are many identical products that flood the market, but brands are always unique. For example, Coke, Himalayan Products, products of Amul, there are similar, but not identical products of these ‘brands.’

“Branding is endowing products and services with the power of a brand” – Kotler & Keller.

Branding is identified as a process of giving meaning to a specific organization, company, product, or service by creating and designing an impact in the minds of the consumers. This is actually a strategy that is designed by the organizations which helps people to quickly identify and experience their brand, which eventually gives them a reason to choose their products over the competitor’s product.

Features of Branding

The features of Branding are as follows

Competitiveness 

For a brand to truly be successful the needs are required to be focused as being competitive in today’s world is very important. A company has an entire team who is working behind a brand, to make that a hit. A successful brand goes beyond consumer expectations to give a competitive edge cutting to the industry.

Distinctiveness 

To create an identity of the brand, the creation needs to be highly distinctive from the other. The world’s most popular brands, like Apple, Starbucks, or the BMW cars have successfully created this impact in the minds of the customers. Take for instance the Apple product which is renowned for its technical approach to design and technology gets appreciation for the innovation in its products. Starbucks promises services across the globe. Hence, we see that brands have a distinctive approach always.

Consistency 

Being consistent is always the catch. It is highly important for the company to remain consistent with the devotion it does to create the brand. They should maintain the flow of efforts. Consistency will help the customers be familiar with the brand.

  

Leadership

The greatest brands in the world are always supported by the leaders who have the power to inspire and continually aspire for their greatness. This works the same for a sports team, and hence also for a large corporation or a small business, the most successful business ought to have an influential leader backing them.

Functions of Branding

The functions of Branding are achieved by a consistent effort. There is a whole team backing up the process of Branding and making efforts to keep a continued effect on the minds of the customers. Branding is totally a mind’s game hence, it is the mind that will help the branding to achieve its function effectively.

 

The features of branding are the actual function of branding as well, as the concept of branding is only dedicated as an overall process. The functions done by branding are as follows –

1. Differentiation.

2. Authenticity.

3. Value Setting and Centering.

4. Unification.

 

Importance of Branding in Today’s Age

Any company needs Branding so as to survive in the market and its credibility is built only because of branding.  A product can be differentiated on the basis of brandings such as a bar of chocolate belonging to two different brands, hypothetically speaking Nestle and Cadbury. Branding is more psychological than physical as it leaves a deep impact on the consumers. The better a company is able to build its brand, the more chances are of it retaining its credibility in the market. Branding is one of the most important aspects of any company, no matter how big or small.

How to Revise Branding from ?

• Go through Branding- Concept, Features, Functions, and FAQs on .

• Read the page carefully and then start taking notes.

• Write down the subtopics in your own words.

• Use illustrations as much as possible as they help retain concepts in the student’s mind.

• Re-read those areas that seem a bit tricky.

• Do not skip any portion of the page.