Every company requires the right visibility and exposure to make it big, despite the competitive market that exists today. For any kind of business to excel it is essential to understand how the market forces influence the profitability of the business. Once the entrepreneur has a clear understanding of market forces, devising marketing and branding strategies will be easier. It is also imperative that as a business person knows the clear differentiation between marketing and online branding for startups.
Let us first discuss how does marketing as a concept differs from branding while implementation of techniques in practicality. Branding is far broader concept when put together with marketing. When a marketing professional implements strategies to market a product to potential customers, it is in a way aimed at enhancing the brand image of the company. Marketing is a means through which a value or worth of a new or existing product can be communicated to target customers in a market. Marketing techniques are implemented primarily for two purposes, first to enlighten the people about a new product and second to boost up one’s sales figures.
On the other hand, branding is a broader concept. Experts define branding as a name, symbol, and graphic or image or a unique combination that will make a product or good recognizable for the general public. Branding is about creating a defined image for your company that empowers the audience to tell your products apart from that of your competitors. Therefore, branding does not involve strategies that promotes a customer to purchase a commodity you are offering over your competitors but to evolve the company as a sole brand that has solution to their needs.
Here are a few reasons for implementing branding strategies for your company.
Coming back to marketing, there are a number of factors with the capability of influencing the decision of marketing professionals. These forces include internal as well as external factors that molds and influences the decision of a marketing strategist. Internal factors mainly include the budget of a company, its size and nature of the product and the customer group they are intending to target. External factors are wider and dynamic in nature; moreover have greater capacity to affect the marketing strategies of a company.
Let us first discuss how does marketing as a concept differs from branding while implementation of techniques in practicality. Branding is far broader concept when put together with marketing. When a marketing professional implements strategies to market a product to potential customers, it is in a way aimed at enhancing the brand image of the company. Marketing is a means through which a value or worth of a new or existing product can be communicated to target customers in a market. Marketing techniques are implemented primarily for two purposes, first to enlighten the people about a new product and second to boost up one’s sales figures.
On the other hand, branding is a broader concept. Experts define branding as a name, symbol, and graphic or image or a unique combination that will make a product or good recognizable for the general public. Branding is about creating a defined image for your company that empowers the audience to tell your products apart from that of your competitors. Therefore, branding does not involve strategies that promotes a customer to purchase a commodity you are offering over your competitors but to evolve the company as a sole brand that has solution to their needs.
Here are a few reasons for implementing branding strategies for your company.
- To communicate a message loud and clear
- Authenticate your company as a credible brand
- Connecting with your target customers at an emotional quotient
- Motivating the buyers and attracting potential customers attention
- Bricks loyalty of existing customers
Coming back to marketing, there are a number of factors with the capability of influencing the decision of marketing professionals. These forces include internal as well as external factors that molds and influences the decision of a marketing strategist. Internal factors mainly include the budget of a company, its size and nature of the product and the customer group they are intending to target. External factors are wider and dynamic in nature; moreover have greater capacity to affect the marketing strategies of a company.