Branding
Branding, by definition, is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. ... There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation, and logo.
Branding is important because not only is it what makes a memorable impression on consumers, but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice. Your brand is built to be a true representation of who you are as a business, and how you wish to be perceived.
LUNAR
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The Power of Branding
Branding Process in 8 Steps
Step 1
Determine what you’re branding and whether your brand will be your one and only or one of several brands in your organization.
Step 2
Research everything there is to know about your product and the market in which it will compete.
Step 3
Position your brand by defining what makes it unique and how it will slot into an available space in the market and in your customers’ minds.
Step 4
Define your brand by stating what it stands for, what unique benefit it provides, what value it promises to deliver, and the image that will permeate everything from your marketing communications to your product design, business character, and consumer experience.
Step 5
Determine what you’re branding and whether your brand will be your one and only or one of several brands in your organization.
Step 6
Launch your brand, internally first and then by announcing it via publicity,social-media advertising, promotions, and presentations.
Step 7
Manage your brand by understanding and leveraging your brand’s value, by protecting your brand through usage rules and legal rights, and by delivering an unfailingly consistent and positive brand experience that creates allegiance among those who represent, choose, and remain loyal to your brand.
Step 8
Monitor, evaluate, and update your brand to keep it relevant and credible in light of changes to your business, your customers, or your marketplace.