More than just a catchy business name, branding is used by organisations to distinguish themselves from other companies. The Marketing Association of Australia and New Zealand describes branding as follows:
The practice of creating a unique name for a product and giving marketing support to that name. Selecting and blending tangible and intangible attributes to differentiate the product, service or corporation in an attractive, meaningful and compelling way.
For a company to be compelling, they must ultimately convince the customer or client that they are the solution to their problem. And in order to do this, an organisation must have a good understanding of the requirements of their customer right from the outset.
Branding of a company will usually encompass a combination of a business name, a tagline and a logo or symbol. The recognisable image of a company brand should be present in all marketing aspects of the organisation in order to gain familiarity and ultimately brand loyalty. The loyalty however will only come once the quality of the business and branding has been impressed upon a customer a number of times.
If a business is to succeed, the quality of the products or services on offer should be represented by the branding. This is of particular importance to new businesses as they are looking to compete with other established businesses for their existing clientele.
Over a period of time, the branding of a company will also take into account the quality of the brand and reputation it creates. Some companies are recognised for their cheap products or swift service and others are known to be more expensive or well worth the wait.
Ultimately whatever branding is created initially for the company, longevity is the key. The longer an organisation remains in business and continuously offers a quality service or product, then the quality of branding will withstand the test of time.
