As digital disrupts more marketplaces, brands become more important and valuable – not less. They provide meaning and satisfy emotional needs. As consumers experience information overload, the tendency to gravitate toward what’s familiar increases. At the same time, reliance on traditional tools, like advertising, corporate identity programs, and PR, to build brands is waning. So how can companies strengthen their brands? Look at Apple: Since its “Think Different” ad campaign, it has withdrawn from image-building ads, kept a smaller marketing budget, and instead, focused brand efforts on creating a well-designed, holistic product experience.
Firms must be able to tell a meaningful story through actions and products, not words in ads or statements. Products and services should encapsulate a brand and communicate value without an additional layer of advertising.
Here is an interesting short article on the differences
Businesses typically use advertising, marketing and branding to convince consumers, clients, stakeholders or external donors to buy their goods and services or invest in the organization. Many people usually misuse the three terminologies because their meaning can be confusing due to close their connections and unity of purpose. Knowing the differences among these words can substantially help your business grow because these elements help to increase the reputation of your product or company by keeping the potential buyer aware.
Marketing is a process that refers to the deliberate business activities your company executes to bring together buyers and sellers for the exchange or transfer of products. These activities include formulating marketing strategies to use alongside available resources such as social media, television, packaging and print media. Organizations whose employees face customers directly on a regular basis usually reiterate the importance of proper conduct when they have contact with the clients or stakeholders to enhance marketing ability.
Advertising is any paid announcement to the public by an individual sponsor or firm that aims to persuade potential or existing consumers to buy a product or service. It usually aggressively or indirectly involves putting the word out about a product through media such as newspapers, posters, television, radio or the Internet. Advertising involves a message you send toward a target audience and a medium through which to convey the message.
According to the American Marketing Association (AMA), a brand is anything that helps get potential buyers to remain loyal to your product or company, such as the logo, symbol, name or design. Branding involves the collection of things an audience expects and experiences, combined with the workings of all the brand elements, including typeface, logos, tagline or brand. It creates an association between, the potential buyer’s ideals and the particular make of a product, such as associating the color blue with some airlines due to the color of the sky.
Source of Confusion
The terms marketing, branding and advertising sometimes bring confusion regarding the best word among the three to adopt, as a result of their inter-connectivity and end result. For example, advertising may enhance potential buyers’ awareness of the particular brand, while loyalty to a brand justifies the cost of advertising spent on it. Likewise, advertising and branding are single components of the marketing process, while all three components work as a cohesive unit toward increasing sales and enhance the company’s reputation.
EXPERIENCE IS THE NEW CURRENCY OF THE DIGITAL ECONOMY