Here the article on ‘Marketing and Branding’ to gear you up for upcoming sessions of WAT/GD and PI.
The terms ‘Marketing’ and ‘Branding’ are two different terms. The differences between these two confusing terms are as follow:
Branding is why. Marketing is how.
Branding is long term. Marketing is short-term.
Branding is macro. Marketing is micro.
Branding defines trajectory. Marketing defines tactics.
Branding drives enduring reputation. Marketing drives periodic sales.
Branding builds loyalty. Marketing generates response.
Branding creates value. Marketing extracts value.
Branding is the being. Marketing is the doing.
Marketing is actively promoting a product or service. It is a push tactic. It is pushing out a message to get sales results. But this is not branding.
Branding is not push, but pull. Branding is the expression of the essential truth or value of an organization, product, or service. It is communication of characteristics, values, and attributes that clarify what this particular brand is and is not.
Branding : The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.
An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does “branding” mean? Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors.