Branding, marketing are the keys to business success
Marc L. Goldberg
As a marketer, you have been exposed to a variety of different terms that define what is done to raise awareness for both businesses and nonprofits. Many people consider marketing and branding to be one and the same. But they are different. Branding is heart-driven and marketing is mind-driven. Branding connects values, emotions and connections. Marketing ensures that buyers understand and believe in the brand and what it offers.
In the 1950s, Philip Kotler of Northwestern University coined the word “marketing.” He defined it as everything an organization does from the moment it perceives the need for a product or service until it is in the hands of the end consumer.
Marketing drives brand awareness of an organization. Its role is to create awareness in the minds of buyers so that they see no suitable substitute for the product or service offered.
Branding is the personality of an organization and marketing is how the brand is communicated.
It is commonly accepted that there are seven “P’s” of marketing. They are: the product, the price, the promotion, the place, the people, the process and the physical evidence. There are four types of marks: corporate, personal, product and service marks. We will focus on corporate, product and service brands.
Even though branding and marketing are different, they support each other. Branding is what determines what your audience thinks of your business. This is the fundamental principle of brand or company loyalty. A good promotional or marketing campaign may be enough to attract a new customer, but it’s what that customer thinks of the brand that determines whether or not they will return or recommend it.
When creating a brand, five elements should be considered: position, promise, personality traits, history and associations.
What position do you want to keep buyers or potential buyers in mind so that they look to you for a solution to solve a problem?
What to promise are you going to do to get them to take the action you want?
What personality will you display traits that potentially match your buyers?
What stories can you tell this resonates with buyers so they connect with you emotionally then physically?
And how will you connect buyers with others who have already “signed up” to your brand messaging?
Branding is why a buyer should consider a product or service to solve a problem for them. Marketing is how a buyer learns about the solution.
Branding is long term. It is about positioning yourself in the mind of the buyer to generate a preference.
Marketing is short term. This is a specific campaign to raise awareness and understand the proposed solutions. Marketing initiatives include campaigns, content, public relations, and interactions with your target audience or customer.
Branding is macro; he cares about the big picture.
Marketing is micro; it applies to tools that are used to create awareness, understanding and credibility.
Branding sets the trajectory. It is the direction the organization is heading and the position it wants to reside in the minds of potential buyers.
Marketing defines tactics who give direction. It defines which tools, i.e. traditional or digital, will be used to gain a preferential position in the minds of consumers.
Branding builds loyalty, while marketing generates response. Loyalty is built by generating preferences through link values that attract buyers, while marketing tactics create action from buyers.
Branding creates value, while marketing extracts it. Brands represent the values that the vendor has applied to the product, service, or organization providing the solution. Marketing is how values are communicated and positioned so that buyers are attracted to the brand.
Branding is about being, while marketing is about doing.
Contributed by Marc L. Goldberg, Certified Mentor. SCORE Cape Cod and the Islands, www.capecod.score.org, [email protected]508-775-4884. Source: Sarah Sarwar, content creator, UI/UX designer. /Thesis agency – Branding vs. Marketing.