Branding and Marketing are two important business functions that work collectively with the aim of increasing revenue. To bring awareness of a product or company between people, the activities are used. They are so closely interconnected that people often do not realize the difference between marketing and branding. While marketing involves an array of activities carried out to sell a product or service that starts from ascertaining the customer needs to provide them with the product required.
On the other hand, branding encompasses activities that create a name or an image of a product, by occupying a place in the consumer’s mind. It is not just about people choosing your product over the competition, but also, they are seeing your product as the ultimate solution to their problem. It helps in building long term relationship with the customers.
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Marketing is defined as the management process that brings together the company and the consumers, that results in the exchange of goods and services for consideration. It encompasses a range of activities, i.e. exploring, creating, advertising, selling and delivering products or services that have value to people at a profit. It is not just telling and selling but includes all the activities done to acquire customers and build a relationship with them.
The process involves identifying the unfulfilled customer requirements, determining the size of the target market and profit aspects, ascertaining which unit of the enterprise will serve best to the customers, promoting the products or services with the aim of selling, building client and customer relationship and much more.
To understand the term branding, firstly, you should know what is a brand? A brand is a name, logo, sign, mark, slogan or a combination of thereof, used to recognize and differentiate products or services from other sellers. Branding is a set of activities that involves creating a distinct and memorable name or an image for a product or service that occupies a place in the consumer’s mind, by using advertising tools.
It is a marketing practice done with the aim of setting up a remarkable presence in the market to attract customers and retain them for a long time. It establishes trust, reinforces the value and enhances the experience with the product as well as the company.
Branding vs Marketing Infographics
Below infographics on Branding vs marketing list some of the key difference between the two:
The differences between marketing and branding can be easily understood with the given below points:
- Marketing the range of activities carried out by the company to bring together buyers and sellers. they promote the exchange of goods and services. On the other hand, branding is the practice of assigning a brand name to a product, which helps consumers recognize and identify the company producing it.
- Marketing is for enterprise, while branding is for consumers.
- Cultivate customers use marketing whereas branding is used to build trust and brand loyalty among customers.
- Marketing influences a customer’s immediate response to buy. As opposed to branding which influences buying decision by leaving an impact on the consumer’s mind.
- Marketing discloses the benefits of the product or service offered by the company. Conversely, branding showcases dreams.
- When it comes to strategy, marketing is a push, but branding is a pull.
- If we talk about value, marketing promotes intended value, but branding creates one.
- The ultimate result of marketing is sales. Conversely, branding brings an enduring reputation.
- Marketing aims at creating customer needs. Unlike branding, that aims at building a strong and healthy relationship with customers.
- Marketing speaks to the target audience. On the contrary, branding speaks to emotions.
Marketing is the first step taken by the company to cultivate consumer needs and a market for their product. In contrast to branding, that follows marketing and aims at creating value for customers.