Why branding is important for business : importance of branding roles

Why branding is important for business
why is branding important
why branding is important
importance of branding
roles of branding
Why branding is important for business
Do your business need branding or marketing? People often use the terms marketing and branding
interchangeably, assuming both mean the same thing. But the meaning is different in any other way.
The branding is to connect the people with the business brand by telling them "what we do" and "why
we do." Marketing activities are done to get more and sales.
Have you ever thought about the importance of branding? Irrespective of any business branding is
something that one shouldn't be ignored. If you want to rule in the market for a longer duration.
The following are the things that can be branded:
Product: iPhone, Tesla, Victoria's Secret
Services: Gold Gym, Singapore Airlines, Ritz Carlton, KFC
Firm: Microsoft, Facebook, Google
Person: Donald Trump, Lionel Messi
Place: Dubai, New York, Las Vegas, Germany
Sports & Entertainment: Indian Premier League, GOT, Real Madrid
Why is branding important for business:
Distinctiveness:
People usually look and get inclined towards different and unique things in the market. Entrepreneurs
took advantage of this psychology and started making attention grabbing products. Branding is all about
making difference with your product over other similar looking products in the market. A brand is a
combination of logo, name, theme color, slogan, and a unique added factor that supposed to be the
secret of the brand. Through branding brands make a place in public’s mind, so that people never
forgets the brand name. Branding is never done with an intention to sell the product. Have you eaten
Pizza other than Domino's? Ofcourse, every other brand of Pizza taste different. It is just because that
every brand has their own secret recipe.
Example
Many brand offering car, but what makes difference is every brand has their own speciality and
customer buys what fits their need.
Ferrari: Design and Speed
Rolls Royce: Luxury

Maruti Suzuki: Affordable Automobile
Legal Protection:
A brand name and its unique identity offers legal protection to the products through trademarks,
patents and copyrights. A business can protect its brand name through registering trademark, so that no
one can copy their name for any personal or professional use in future. Like every has their own
manufacturing processes to create a unique product, that can be protected through registering patents.
A firm spends huge amount to come up with a special unique designs, that can be protected through
copyrights. Legal protection allows businesses to take legal actions against anyone who uses their brand
to make monetary benefit out of it. It gives the power of monopoly to the business for their brands.
Example:
BBC: Logo, design and font style are unique and copyrighted, and it’s worth more than half a million.
Unique Associations:
Every brand has different reasons to associate with the public. Brand usually find an emotional way to
connect with the public. It is also called as emotional branding. A brand builds a relationship between
the product and a consumer by provoking emotionally. Herein, the marketing activities focus on creating
content that can appeal the customers by hitting their need, aspirations, happiness, or ego. Emotional
connections build bond with the brand.
Study says, 95% of purchasing decisions are made out of emotional connection with the brand. Positive
emotions with brand influence far greater than any advertisement. It results in customer revisit and
loyalty.
Example:
Cadbury for Celebration - Brand has advertised itself for all occasion of celebration
Coca-Cola for Happiness – Brand has advertised itself to bring and enjoy happiness.
High Market Share:
Market share is the total number of sale of a company in an industry. Every company does advertising
and marketing to generate highest sale to beat their competitors. A well established brand enjoys the
highest market share in the market due to customer loyalty. Brands reap benefits after proving
themselves as the best standard quality in their niche. A brand is a market leader who earns the highest
positive customer perception about the brand. The customer’s positive thought for the brand leads to
organic and elevated earnings which result in higher market share for the organization. A happy
customer recommends a same service which met their needs to other contacts that help in getting more
customers. Word of mouth marketing is the best marketing with higher returns.
Example:
Apple AirPods, with a 60% of global market share is way ahead of the competition, which comprises of
wireless earbuds from brands such as Samsung and Bose.