JWT Worldwide: The Inevitability Of Branding
THE VITALITY OF BRANDING
Introduction
In simple words “Branding” is the process of creating a unique, exclusive, and memorable identification of a product or service. The American Marketing Association defines a brand as “A name, term, sign, symbol, or design or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” Professionals describe a brand as “Something that has actually created a certain amount of awareness, reputation, prominence and so on in the marketplace,” The essential requisite for creating a successful brand is the development of strong points of differentiation compared to the competition. These points of differentiation are called the “brand elements”.
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He in 1900 heralded the philosophy of “trademark advertising” which was the initiation of the concept of branding. This concept heralded the supreme importance of “Consumer” to the manufacturing masses that were the sustaining force behind their commercial endeavors. It became imperative for manufacturers to communicate and influence the mental inclination of the masses to convert them into sustained patrons of their products. This entailed a process of communicating and educating the masses regarding the inherent qualities of the product. With time the behavior of consumers towards a product started to acquire psychological, social and anthropological overtones, which led marketers to imbibe the product with many qualities akin to humans. The traits of brand identity and brand personality have much similarity with human nature which the marketers factored into a brand. Innovations and refinements in the concept of branding transpired with time and as of today brand is a high level satisfaction quotient to the acquirer and a multibillion dollar asset for a market savvy
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