The Concept of Branding in Marketing - Essay Example

The Concept of Branding in Marketing Introduction A brand is one of the important things that is needed in the process of business growth and development. Businesses are often identified from their specific names; the same is the case for products and services developed and sold by these businesses. In this understanding, a brand simply refers to a design, terminology, symbol or any particular feature used to identify a certain product being sold by a business. The concept of branding is common in marketing, advertisement and in other business activities and functions In order to enhance their publicity, businesses are often involved in various activities and functions that make them and their products unique from those offered in the market by competitors. The activities they perform in the process of making themselves and their products known are referred to as branding (Hawkins & Coney 2004, 21). Overall, branding is defined as the processes and activities done by a business in the development of a unique image or name for their products and services. Branding is an important process that ensures company products and services stick in the minds of consumers to influence their purchase decisions and preference for company goods and services in place of those of their rivals (Belk 2010, 67). The process of branding in businesses focuses on establishment of an imperative and differentiated physical and mental presence in the particular market in order to attract and sustain the loyalty of their customers (Hartmann & Apaolaza, 2007, 65). This paper examines the concept of branding, and how it influences customer’s behavior in the market; additionally, it focuses on the process of creating successful branding by companies and the effect of such on the market position and competitive advantage. Branding and marketing Branding is a common practice carried out by marketing executives in the business after the design and production of goods and services. It is important to note that in as much as marketers in business organizations do their best in the production of brands with positive image for their institutions, they often do not decide on the ultimate meaning to the branding itself. In this case, it is imperative to note that the process of branding is not about getting your preferred and target audience to choose your products over those of your rivals; instead, it is about making them see what you can provide as a solution to their various needs. What marketers should understand A good branding process in business and its products has to fulfill a number of key goals and objectives. First, it is essential in delivering the intended message to the target market clearly; secondly, it confirms the credibility of the business in addressing the needs and challenges of its target market. The third most important objective of company branding is that it connects that particular business target prospects emotionally, by making them have the brand in their minds. With respect to the buyer, a good brand image motivates him to prefer and buy the company’s products and services. Finally, a good brand in a business creates and sustains the loyalty of their customers; in this process, the main centre of focus by marketers is to ensure that the products and services they make create a lasting impression in the minds of their clients. In this case, an organization can manage to create a lasting impact in the clients; hence, it continues to remain relevant with the changing times. In order to have success in company branding, marketers need to understand the particular needs of their customers. This way, they are in a better position to devise strategies that can address the challenges in the market as much as their goods and services are concerned. It is important to note that the particular brands in a company often reside in the minds and hearts of particular business prospects, clients as well as its customers. In this case, the process of branding becomes the total of their perceptions and experiences, which can be influenced by the company’s branding processes. It is important to understand that the current business environment is characterized by immense competition from several other emerging firms. This means that business that want to create a lasting impression in the minds of their customers have a duty to create brands that can influence the decision of clients and their corresponding behavior. In order to manage this process, businesses have to invest continually in research, defining their objectives as well as creating and refining their particular brands. Marketers should understand that business branding is a source of promise to its consumers that it will live to the expectations portrayed in the particular brand. They should know that effective branding in business is an important and foundation piece that is essential in marketing communication, something that businesses cannot afford to lose. In the process of creating their brands, marketers need to understand that customers make their preferences based on the information they get after comparing various businesses. The business market place is composed of rational consumers who make their purchase decisions based on the comparison of the different company brands and the products they sell. Fortunately, advancements in information and technology has increased accessibility to this information. Currently, the internet provides a reliable platform upon which business use to reach the target market; they do these by making websites and social marketing. On the other hand, customers are always on the search of businesses that can articulate their needs effectively. They also search for business to compare the products and services they offer so that they can decide on how to try out their products. Branding and consumer behavior In the current times, consumerism has happened to dominate many of the different aspects of human life. It is evident that life in the present day society has adopted the behavior and pattern of the exhibited in the culture of the capitalists (Solomon 2005, 37). In this development, human values and choices have completely different measures. The present direction taken by our societies has every person wanting to be different and unique in many ways depending on the preferences and choices. In this development, the process of branding in business organisations stands for not only the symbol of the products and services provided by the company but the general preferences and tastes and the life of consumers (Hammond & Hammond 2011, 31). It is important to understand that the preference and tastes exhibited by consumers reflects their particular way of life, their economic background as well as other things. What markets should understand According to this perspective, a deep association exists between a company’s brand and its particular goods and services. These two parties present a reliable mutual understanding that is useful on various occasions in the process of growth and development of the company. It is a common observation in modern businesses that customers are deeply attached to the company brands in the products and services available. In the process of buying products, say mobile phones, cars and other products, their purchase behaviors are often influenced by the particular brand names (Cretu & Brodie 2007, 235). Consumers have the belief that company brand names are important marks of quality. This is the reason why as rational consumers, they do not just go for any product or service that meets their particular needs, the make choices. In making this decision, consumers rely on information, which is often available from many sources. It is available on various online platforms, from print and non-print media. On this note, the advice from other customers cannot be underestimated; consumers are largely influenced by the testimonies they get from those that have had practical experiences with certain goods and services. This realization has seen many marketers in business organisations investing heavily in the branding process with the aim of ultimately influencing their customers purchase patterns and behavior. While many companies have shown increased budgetary allocation in the process of branding themselves and their products, many questions have continued to emerge concerning the expected outcomes from this process in respect to purchase decisions and the corresponding consumer behavior. Influence on consumer behavior The question of whether branding influences consumer behavior and their corresponding purchase patterns has made marketers to devise various approaches in exploiting the opportunity in this realization. According to studies conducted on the relationship between consumer behavior and company branding activities, branded products and services have a lasting impact on the minds of consumers (Leif & Nina 2004, 86). When consumers go out to make their shopping, they often purchase brands that are widely known. The information they have about the popularity of these products and services depends in the interactions that have with their fellow consumers. The information displayed in promotional advertisements on print and non-print media as well as the internet, which has become the global platform from where people can meet and share knowledge and experiences (Peter & Olson 2005, 42). Marketers should therefore ensure that in the process of creating their branding, they make good use of these sources of information and others that are within the access of consumers. In this case, marketers have a duty to conduct market research and study in order to establish the specific tools that they can use to advance their branding and product promotion practices. This has to be done in the expectation that consumers will end up making informed purchase decisions that will result in increased turnover for their goods and services. Marketers should ensure that the conduct this process from an understanding of the specific customer needs and preferences as opposed to their particular innovations and assumptions. Creating powerful company brands From the foregone discussion, it is evident that a company’s brand represents its design, symbol or name that it identifies itself in the market and differentiates with other companies (Kotler & Saunders 2005, 56). Company’s brands correspond to particular opinions, perceptions and experiences with certain products and services. In this case, the company brand that is the most powerful is that which has a lasting effect in the minds its consumers. It is important to note that company brands are different depending on their worth and power in influencing consumers’ purchase patterns and behavior. While some brands are largely unknown to consumers, others are loud, and are common in the market place. Brands that have a high level of consumer awareness have a great level of acceptability from new and present consumers; these brands command a great amount of consumer loyalty. What marketers should understand Marketers in different companies are expected to understand that branding is the most important and complex process in the company’ marketing activities. While other marketers brush this concept as being natural and simple, they fail to understand and acknowledge the fact that creating a powerful brand is a process that requires a variety of activities blended together. These activities include the marketers’ hard work, creativity as well as analysis of particular markets and characteristics of the target market. Understanding the vision of the business Marketers are expected to understand that not all businesses can be like Apple Inc., Coca Cola or other successful brands in the world. The process of creating powerful brands is an extensive process that requires a resources and a good amount of time; additionally, the process requires a certain amount of market timing and luck. Not every business brand is supposed to be large, complex and memorable. Marketers should understand that the process of creating an excellent brand should start by ensuring that the immediate market place understands its existence. Thereafter, as the brand grows and develops, consumers can carry out its good reputation to other places everywhere. One of the important things to do in the process of creating powerful brands is having an understanding of the audience. Understanding the audience enables marketers to design and use strategies that appeal to the particular needs of their target audience in the market. The process leads to creation of a people that understand the business’ products and services, their specific features and other important features that make them passionate about the company and its activities. It is always important that marketers never fear to be small, because it is sometimes better to be a big fish swimming in a small pond than being a small fish swimming in the expansive ocean. Make great design an integral part of your business This is an important process that marketers in business organisations are expected to know and comprehend effectively. A great and outstanding design is a foundation in the branding process of any business. Marketers should understand that design is very essential in the process of branding in any business. In this case, neglecting the particular brand can spell much doom to the company’s branding process (Miletsky & Smith 2009, 37). In as much as design is essential in the branding process, marketers should not bombard the designs they create. On the other hand, a simple and creative design can achieve far much grate positive effects in influencing consumers’ behavior and purchase patterns. By keeping the brand designs simple, marketers can end up having memorable and compelling logos that ensure reliable corporate identity in the market. In order to achieve this process effectively, companies are expected to have a deep understanding of the customers purchase patterns and behavior, as well as their particular preferences and tastes in the various products they shop (Davies 2005, 782). By taking this approach, they can create powerful brands that have lasting impression in the minds of their consumers. Additionally, it is important to keep in mind that an organization has different goals and objectives that are expected to address its short and long-term objectives. Summary and conclusion From the foregone discussion, branding in companies presents many and different things concerning its products and services. Additionally, branding provides significant information about features that various products and services have on to the customers. This is aimed at influencing their purchase behaviors and patterns for the products the company is producing. The branding process in companies provides an important and convenient summary and analysis about the consumers’ feelings, experiences and knowledge about the company brands. This follows the fact that consumers prefer buying company brands that are widely known or those they are told to buy by those that have purchased and used those particular products. Marketers, in their process of creating company products should know that consumer behavior is largely influenced by the particular company brands created. Many consumers make little considerations and preference for new products and services in the market, they prefer buying those that have been in existence and rightly branded (Mooij 2004, 46). This follows an assumption that these products have followed the necessary processes and protocols in their design. Many consumers do not like meeting unexpected disappointments and challenges in new products. For this reason, marketers have a duty to create reliable brands and use all the promotional tools available in the process of creating awareness for these particular brands (Lefa 2008, 29). It is important that companies rely on carefully planned market research activities in the process of understanding the needs of consumers in the process of creating customer brands. Companies need to understand that influencing consumer behavior and purchase is an important practice towards creating competitive advantages. Consumers that have a perfect understanding of a business’ brand portray several repeat purchase behaviors that enhance the performance and excellence in the company’s activities (Ajay & Murthi 2008, 225). Advancements in technology and the globalization activities are essential in the growth and development of the business. These processes has brought the need of branding in the process managing the competition, which is fast growing , and affecting businesses that do not have reliable practices in enhancing their market position. Bibliography Ajay K & Murthi B.P.S. 2008. When Old Is Gold: The Role of Business Longevity in Risky Situations, Journal of Marketing. Vol. 13, No 3. 221-233. Belk, R. 2010. Research in consumer behavior. Emerald, Bingley. Cretu A, E &. Brodie J. 2007. The influence of brand image and company reputation where Manufacturers market to small firms: A customer value perspective, Industrial Marketing Management Vol 36, No 2. 230-240. Belk, R. 2010. Strategic Marketing. McGraw Hill, Boston. Davies, C. 2005. A consumer behavior approach to modeling monopolistic competition, Journal of Economic Psychology. Vol 26, No 6. 797-826. Hammond, J., & Hammond, J. 2011. Branding your business promotes your business, attract customers, build your brand through the power of emotion. 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P & Olson J, C. 2005. Consumer Behavior & Marketing Strategy. McGrawHill Irwin, Boston. Solomon M. R. 2005. Consumer Behaviour, Buying, Having and being. Prentice Hall, Upper Saddle River, N.J. Read More