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“At The Heart Of Branding Is The Promise That Is Made By The Organization To The Audience. The Brand Promise Tells The Audiences Who You Are, What You Believe In, And What Unique Value You Provide.”– Dave Holston
You might be wondering, what is branding definition (branding definition by Philip Kotler)? What are the types of branding? What is the importance of branding? How can you implement branding in business?
But, worry not, all of your worries and much more will be satisfied in this article, so let’s start with branding definition by Philip Kotler.
The importance of branding is immense in today’s time, but do you know What is Branding?
According to Business Dictionary, a brand is a unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors.
Branding definition by Philip Kotler-
“A brand is defined as a “name, term, sign, symbol (or a combination of these) that identifies the maker or seller of the product.”– Philip Kotler
So, branding in business is basically what visually communicates with the people.
Your business will have an effective brand identity (using branding) when your customers are able to put their trust in it to receive a high-quality product, thus giving you credibility.
Now that we are familiar with the branding definition by Philip Kotler, let’s check out types of branding and the importance of branding.
Types of branding
Following are the types of branding:
Product Branding – It is the easiest branding of all. It can be located whenever we go to a store where different products of the same category are kept, but with different logos, colors, and styles.
Personal Branding – It refers to the branding of a person. It is the most common amongst politicians, athletes, and other celebrities. Oprah Winfrey is an example of personal branding.
Corporate Branding – It is done by businesses trying to make or maintain a good reputation. It includes their services, products, customers, employees as well as their social responsibilities.
Geographical Branding – It is a branding of a particular region based on its unique features, such as waterfall, snow, rivers, landscapes, hills, and other scenic beauty. It is most common in the tourism industry.
Retail Branding – It refers to the branding of products done in order to increase sales. Business giants try to create a brand image of their products so as to attract customers and increase sales.
Co-branding – It is done by brands in partnership. In this branding when one brand becomes successful, it’s associates also get the benefits.
Online Branding – It refers to branding strategies done using the internet. Social media serves as a great platform for online branding.
Offline Branding – It includes everything from business cards to business lunches. It requires a good mix of design and communication skills.
Importance of branding
The importance of branding in business simply cannot be ignored.
Building Successful Branding makes your business stand out in the public eye and helps you gain their trust.
Branding helps you to make your business successful by helping you generate a unique brand identity for it.
For example, Minute maid, back in 2009 redesigned their packaging style for their products of premium range to make them distinguishable and easily identifiable.
Up till now, we have successfully understood the branding definition by Philip Kotler, types of branding, and the importance of branding, let’s move on to know the steps involved in branding in business.
Branding Definition Guide
Now that we know the importance of branding, let’s see how to do branding in business:
1. Build a team
The first and foremost thing in branding that you need to do is to build a team that understands the branding definition (branding definition by Philip Kotler) and types of branding.
First, figure out the various people you will need from different organizations such as marketing, research, design, etc. and build a cross-organizational team.
Then, gather those members that are experts in their respective areas and bring them on board to kick start your branding in business.
2. Research your business
Once you have a team, the next step is to research your business starting with your firm’s overall business plan, your motives, your strategies, and your ideals.
The research will help you determine the types of branding that will be needed for your branding in business.
By bringing together the members from the management will help you do a better internal research.
Only after carefully assessing your own business will you be able to know what you can provide to your customers, and how will you do it.
This will help you immensely with the branding in business.
3. Research your target audience
You know from the branding definition that it should be unique, thus knowing you have to research your target audience to understand how will you be able to acheieve that.
You should ask yourself:
- Who are your audience?
- What do they want from you?
Once you get answers to these questions you will know exactly who you are planning all your branding strategies for as well as the types of branding applicable.
After you have successfully identified your audiences, next questions that you need to ask are:
- What image do your audiences have of your business?
- What is your reputation?
- How visible are you to them?
- What vulnerabilities do they perceive in your business?
- Why should they choose you?
As soon as you find answers to these questions you will be ready for further stages in Building Successful Branding.
Also, this will reduce the chances of marketing risk to a minimum.
4. Research your competitors
After doing thorough research on your audiences and business, the next research you need to do is on your competitors.
Knowing what you are standing against will help you make efficient strategies, thereby improving your chances of creating better Branding.
You need to do a thorough research on their:
- messages and visuals,
- quality of products and services,
- reviews and mentions by their audiences, and
- marketing strategy
Of course, you should never imitate your competitors but it’s best to know the causes behind their failures and successes.
5. Generate a branding strategy
Now, that all your research is completed, it’s time to plan a strategy for branding as well as understand the types of branding applicable to you.
As per the branding definition by Philip Kotler, the importance of branding in business lies into making the seller or maker unique. So you strategy should also follow the same.
You have to generate a voice for your brand and its style.
This strategy should be in such a way that along with fulfilling your audience’s expectations, it should also bring out how different you are from your competitors and what makes you unique.
Generating an efficient branding strategy is the core of your branding process.
6. Design your logo
A logo is the symbol of your brand. It makes it unique which is an important feature as per the branding definition by Philip Kotler.
The next step involves the creation of your brand’s name and logo in a way that appeals to your audiences.
You have to make sure that while designing the logo it should perfectly convey the message of your brand.
Always remember, a picture says 1000 words.
Your logo and tagline are the first things that people will encounter while interacting with your business.
7. Tailor an effective message targeting the audience
Audiences need to know who you are, what you do and what makes you different from other businesses in the same field.
Also, every audience is different based on a number of factors.
So, when you are tailoring a branding message for your audience make sure that you create it for different category of audiences.
An effective way to do is to create a list of different audience categories as well as some commonplace one’s.
Also, you can create a document listing out the objections that different audience categories might have and how to overcome them.
8. Develop a marketing strategy
This is mainly related on how will you approach your audiences.
In today’s internet era, content is the king.
So, while planning a marketing strategy make sure that you have great content listing all about your business and how will it affect people.
Also, now that you have your research document ready along with logo and message, you can incorporate them into your business marketing.
You need to not only improve your visibility but also your reputation in the public eye through marketing.
This is true branding.
9. Publicize and advertise your brand
Today, you can earn a lot just by doing the right advertisement and publicity.
So, don’t be afraid to spend a little fortune on advertising and publicizing your business as its all a part of branding.
Remember, it is only when people see it, will they come for it.
So, you need to be in the news for good reasons.
You should travel, conduct meetups, perform interviews, etc., in short, you need to interact, discuss, and debate with the public to sell your brand.
Help customers get a good experience and you will get an amazing word-of-mouth publicity for free.
10. Start the feedback cycle
Last but not the least, make sure to gather feedback from audience.
You might think that after completing all the above steps perfectly and finally launching your brand, your work is done.
But no this is where the real work begins.
Now that you are on the market, people will interact with your brand and will form opinions and judgements.
Not all of them will be good.
It is your duty to gather those feedback and improve your branding and brand’s identity with its help.
Constant improvements and consistency will help your customers put their trust in you thus making your business successful.
Audience first. As long as you remember it and implement it in your branding, you will continue to grow.
Now I am sure you are aware about the branding definition, branding definition by Philip Kotler, types of branding, and importance of branding with example.
I hope that the steps mentioned above will help you with all your branding in business needs.
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