Internet Marketing - 11 Sep 2020
Difference Between Marketing and Branding
Marketing and branding are two essential business functions that work together to increase revenue. These activities build awareness of a company or product among people. These two activities are interconnected with each other, but people often don’t realize the difference between branding and marketing. Marketing includes activities aimed at selling goods or services, which begins by determining the client’s requirements, to offer them the product needed.
On the other hand, branding includes the activities that build name recognition, as well as a picture of a product, by occupying a place in the customer’s mind. It is not just about people selecting your product over the competition, but also that they see your business as the final solution to their problem. It helps in building a long-term relationship with clients.
Definition of Branding
Before we dive into the term branding, you need to know what a brand is. A brand is a name, mark, sign, logo, or mixture of thereof, and a memorable slogan, as well as a company message and culture, which make a company memorable and distinguish the business and its products and services from other sellers. Branding can also include making a different and memorable name or a picture for a particular product or service, which makes an impact in a customer’s mind.
Branding is a marketing practice that is done with the intention of establishing a remarkable presence in the market, to attract clients and retain them for a long time. It builds trust, strengthens the market value, and boosts the experience with the company.
Definition of Marketing
Marketing is a process that brings together the consumers and the company, which results in the sale of products and services for consideration. It covers a range of activities, such as creating, exploring, selling, delivering, and advertising goods or services that have value to people, for a profit. It is not just selling products or services, but it includes all the activities done to attract consumers and build a relationship with them.
The procedure includes understanding the unfulfilled client needs, determining the size of the market and profitability aspects, ascertaining which enterprise will best serve the consumers, promoting the goods and services with the aim of selling, building, and making relationships with customers.
In short, marketing is activity undertaken by the business to promote products and services that meet consumer requirements and create a marketplace for their product. Branding follows marketing and aspires to promote the brand identity and reputation of a business, to build recognition and trust with the consumer base.