What is Branding? Types, Importance and Mergers

Branding is the idea, concept and strategies of a brand or company to position itself in the minds of consumers. Its main objective is to increase relevance in the market, ensure a good reputation, always focusing on its purpose and values.

In other words, branding is the set of strategies that are responsible for making the brand known, creating connections, emotions and experiences in the consumer that invite them to always have it present in their mind.

But to talk about branding , it is necessary to know a concept with which it is closely related: the brand. What do we mean by brand? A brand is not just a logo or visual identity, it is the entire experience, values ​​and desires that are created from a product or service.

Each person engages with a brand in a different way depending on their social, cultural, economic and even political context. And this is the main reason why branding is key to building this relationship, which will only be successful if a brand endures over time and adapts to new contexts, because otherwise it is destined to perish.

What are the types of Branding?

So far we have mentioned corporate branding, however, there are other types of branding:

✔ Personal branding: It focuses on working on the personal brand, in this case the individual is the image and it is currently one of the best known.

✔ Corporate branding: this is what we have been introducing previously and is focused on brands or companies.

✔ Employee branding: It is a more recent concept and focuses on managing an employee's brand (their skills, achievements, professional successes). If you want to know more about this type of branding, be sure to read employer branding 2022

Why is Branding important?

Think of a brand. Which one was the first that came to mind? What was the first thing you remembered about this brand?

Most likely, you thought of its colors, logo, etc., but also experiences, sensations and emotions. This is precisely the function of branding : to create a series of connections between the consumer and the brand so that they choose it again when making a purchase.

Let's go back to the brand you thought of, this was not a random choice, because behind a great brand there is always a very well thought out and structured branding strategy over the years.

For this reason, branding is so important, because it is necessary for the brand to differentiate itself from the rest of the brands on the market and this is the set of strategies that will facilitate this action.

What are the functions of Branding?

What makes a brand different is what separates it from the rest, and to achieve this you must start by making a marketing plan, having a brand design and the necessary channels for its announcement, these are the main functions of branding:

1. Know who the competitors and the market are

Competitors will give an idea of ​​where the brand is and where it wants to go, as well as the place it occupies in the market.

2. Always keep the brand values ​​in mind

Brand values ​​ensure consistency, therefore a brand that is true to its values ​​is consistent with what it offers and does in practice.

3. Build credibility and reputation

Brand credibility and reputation is what users say, it is the implementation of values.

4. Distinguish yourself from the competition

The success of a brand undoubtedly lies in its differentiation, which makes it unique and therefore better positioned in the minds of consumers.