• Friday, May 24, 2024
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BusinessDay

Branding Vs marketing: Top 10 key differences to know

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By Feyisitan Ijimakinwa

It is easy to confuse marketing with branding and vice-versa. It is also easy to consider branding an instrument of marketing or marketing as a branding component. However, these misconceptions are far from the truth.

For sure, these two go hand in hand and are necessary for a business to flourish, but none can replace the other. Hence, understanding the concept of branding vs marketing is vital for small-scale as well as large enterprises.

Read also: Differences between branding and packaging design?

Branding aims to turn a company or a product into a brand. At the same time, the goal of marketing is to increase sales. Branding creates a distinguished image of the company in the marketplace, but marketing focuses on augmenting the sales and reach of the product or a company.

If you are still confused about branding vs marketing, keep reading.

1. A Slight Difference in Definition Makes all the Difference:

Let us start by understanding the definition of branding and marketing. To put it simply and as said before, branding is the process of converting your business or product into a brand.

A company or a product turns into a brand when it becomes popular, recognisable, and respectable, and people follow it. Branding promotes the mission and values of the companies while drawing particular attention to the uniqueness of the business.

On the other hand, marketing is a method to introduce, promote, find a target audience, and sell the product. Marketing attracts new customers and works towards increasing sales by deciding how, when and where to promote the brand.

2. Aim of Branding and Marketing is Not the Same: 

Of course, branding affects sales, and marketing helps create a brand. However, the primary focus of both is not the same.

Branding builds value, loyalty, and community. The aim of branding is to create a perspective of a company or product in the mind of the customers. It targets to make the brand more likable and relatable so that people can relate to it on a personal level. Ultimately, good branding upgrades the customer into a devoted advocate.

Marketing aims to escalate sales. Marketing strategies are result driven and focus on increasing profit. It functions as a bridge between the customer and the product. While doing so, it works on developing the product, keeping track of the new branding trends, doing intensive customer research, creating strategies for distribution, product promotion and more.

3. The Outcome of Branding is Relationship and Marketing is Need:

Due to the difference in the aim of branding and marketing, the outcome of both is not the same. By dint of branding, companies create relationships with the mass audience.

Multiple examples where branding successfully creates a fanbase for the product or company. In contrast, marketing establishes a desire for the product, using everything from online brochure to websites and printed flyers. It tells customers why they should buy the product and how it can solve their problems.

4. Branding is to Know the Company; Marketing is to Know the Customer:

One of the most critical components of marketing is research. The market research focuses on knowing the audience, their need, and demand, along with the competition analysis. This helps in knowing how to find keywords, where to find the customer, and how to place the product or service in such a manner that the customer buys it.

Alternatively, branding is about making the company known to potential customers and the world. Branding promotes company values, ethics, and mission in such a manner that it imbibes in the memory of the masses and they start to recognise the brand via a sign, logo, symbol, music, etc.

5. Basic Principles of Branding and Marketing:

Basic principles can very well define branding vs marketing. It is the fundamental principles that put branding apart from marketing. To sum up, these are the principles of branding and marketing.

Branding understands the brand’s purpose and then prepares a strategy to bring consistency, emotion, and loyalty through employee involvement and competitive awareness.

Marketing first understands the product and its usefulness. Then, it defines the price and makes a plan for promoting the product at the correct place to the target audience. Next comes the packaging and process.

6. Marketing is Short-Term, Branding is Forever:

Since its inception, First Bank has released numerous campaigns, but the mascot, the Elephant, has always been there. Now, this is the contrast between marketing and branding.
The marketing strategies are short-term and keep changing with time and as per the need of the hour. However, the brand values are long-term and don’t change easily. The branding focuses heavily on storing a particular perception in the customer’s mind.

Marketing strategies change because it needs to keep up with the new generation, technology, and changing perspective of customers and competitors. Whereas branding modifies the process, the ultimate goals remain the same, i.e. to create and maintain a brand by showcasing values and mission.

Last line
In a nutshell, branding and marketing are like socks and shoes. These complement each other and are both vital for the business. Branding is essential for creating a brand and connecting with the customers. However, this is not enough.

A solid marketing strategy is needed for higher sales and to make the brand stand out in the herd of competitors.

On an ending note, instead of focusing on the branding vs marketing debate, businesses should focus on using branding and marketing together.