Branding is the process of creating a distinctive name and image for a product in the mind of the consumers, mainly done through advertising campaigns using a consistent theme. Branding targets itself to establish a significant presence in the market, different to competitors, so that it attracts consumers and retains loyal customers.

Who does it affect?

Consumers- Brands provide consumers with a decision to make when feeling indecisive about the same product from a different company.

Employees/shareholders- Besides helping consumers distinguish similar products, successful branding will add to the company’s reputation. This reputation then affects various people, from investors and distributors. If a company is seen as a good brand to work with, then it will most likely be chosen over its competitors.

Brand tracking can help businesses understand how their brand is perceived and identify ways of improving it with those it affects like consumers and shareholders.

How can it be done?

There are several ways to get your brand out there. Here is a list of a few ways branding can be achieved.

  • advertising and communications
  • price
  • sponsoring and partnerships
  • the image of the brand
  • product and packaging design

A product can be easily copied by others inside the market. However, the brand always be unique. An example of this is Pepsi and Coca-Cola. These products taste similar; however, people will feel almost obligated only to drink one, as they have a connection with that brand. Click here to see more. Both brands have a long history of innovative marketing strategies to try and improve their brand growth with consumers.

What are the benefits of branding?

There are many benefits to good branding, and when using an experienced advertising research company like Vision One, you’re sure to maximise the benefits for your business.

  • Brand recall and recognition – Strong and appropriate branding for your business and products/services will help you become more instantly recognisable to your target audience. Consistent use of the same visual elements like logos, colours, and fonts establishes a level of familiarity that will make it easier for customers to remember you when making buying decisions.
  • Credibility and trust – A well-established and recognisable brand goes a long way in building trust and credibility amongst consumers. When people know and trust your brand they are more likely to purchase from you over a competitor, sometimes even if they’re priced slightly lower than you.
  • Customer loyalty – Effective branding fosters loyalty and repeat business. When customers have a positive experience they are more likely to buy from the same brand again and recommend them to friends and family.
  • Competitive advantage – Good branding can provide a competitive advantage in the market. A unique and memorable identity will help you stand out from other businesses. You can get an insight into your overall brand health by conducting brand tracking. If you don’t have much knowledge or experience in that area, market research companies like Vision One can help.

Example of branding

Water is a free resource that every human needs in their life. However, you can go into a shop and see that companies have commercialised it, turning it into a product and having different brands going down different avenues. Branding is what makes the product successful. Creating a better brand than your competitors gives you the edge because consumers will remember and return to your product, your brand.

Examples of this are you could go into a shop and see a supermarket branded 500ml water for 50p. There could be a bottle beside it branded by Voss, which can cost over £2 for 330ml. A product so similar to each other but branded differently and receives different expectations from the brand.

There are other glossary terms in the Market Research Society’s Glossary, or more information about Vision One’s branding and best brand research agency services here.

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