The term branding is mostly used in the commercial field. However, not many people know that this term is at least a century old. The term branding was used 100 years ago when the Germans branded their cattle with burning irons to make it clear who the owner of the cattle was, a practice known all over the world. That was branding.
In a highly competitive market, where the consumer has a wide range of possibilities for information and choice, and where products tend to be perceived as commodities, it is essential for companies to generate a differential value that will translate into relevant brands for their sectors. In an industry saturated with similar products, branding makes the real difference.
How branding makes its mark
The primary goal of branding is to build long-term emotional relationships and bonds with consumers, as customers will be willing to pay good brand prices, and will remain loyal to a brand as long as it provides real value both functionally and emotionally.
According to Kevin Roberts, all brands should aim to be a lovemark, as this is the path to a larger audience and impact. Brands must be not only irreplaceable to customers, but also irresistible and must achieve loyalty beyond reason.
What are the benefits of branding?
Through this discipline and the value of a brand itself, the company obtains obvious benefits, among which are: differentiating its products from those of its competitors, and obtaining the trust, reputation and values that are the basis of long-term relationships with its customers. All this generates repurchase and recommendation: key to brand wealth.
For the consumer, a valuable brand simplifies their decisions by providing clear and defined options to choose from, builds trust and, in most cases, becomes a vehicle for self-expression through which the customer demonstrates how they want to be seen in the eyes of others.
Branding and marketing
The discipline of branding must anticipate marketing actions with the aim of imprinting a philosophy on the organization, the identity and the raison d'être of its brands. In this way, the identification and preference of your customers will be achieved.
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