Branding is a marketing practice in which a company creates a name, symbol or design that’s easily identifiable as belonging to the company. This helps to identify a product and distinguish it from other products and services. Branding is important because not only it is what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what’s your offer that makes you the best choice. Your brand is built to be a true representation of who you are as a business and how you wish to be perceived.
Brand identity is the visible elements of a brand, such as color, design, and logo that identify and distinguish the brand in consumers’ minds. Building a positive, cohesive brand image requires analyzing the company and its market, and determining the company’s goals, customers, and message.
Branding is a combination of tangible and intangible attributes symbolized in a trademark, which, if properly managed, creates influence and generates value. Brands are a means of differentiating a company’s products and services from those of its competitors. There is plenty of evidence to prove that customers will pay a substantial price premium for a good brand and remain loyal to that brand. It is important, therefore, to understand what brands are and why they are important.
Branding is absolutely critical to a business because of the overall impact it makes on your company. Branding can change how people perceive your brand, it can drive new business and increase brand awareness.