From a business point of view, branding strategy should be designed in a way that can differentiate your product from all other products on the range. Even if all the other products look pretty much similar. Many businesses are now shifting their primary focus on building their own branding based on the concept of singularity. Your objective is to create the perception in the mind of your prospects that there are no other products that quite like yours in the marketplace.
A successful brand may not appeal to everybody and it is impossible to have a universal appeal. You cannot just make everyone happy. Instead you should only focus on the people that are interested in your brand. For instance Apple is a successful brand but there are also many others who do not like using Apple Iphone. Does it decrease Apple’s sales? No. Apple still makes million of sales from selling their Iphone because they make their brand appeal to people who are Apple fans.
Earlier, many companies have been doing marketing based on the concept of selling. Marketing is not selling. There are many people who could not differentiate selling and marketing. Marketing should be based on the building a brand in the mind of your prospect. If you cannot build a powerful brand, then all the marketing programs that include advertising, web designs, public relations and sales promotions will not get you anywhere.
Marketing is brand building. The terms are so closely related that it is impossible to separate them. Besides, since everything a company does can contribute to building brand, marketing has become a function that cannot be isolated from brand building. The time has come where the marketing concept itself will become antiquarian and to be replaced by a new concept called “branding”.
Today most products and services in the marketplace are being bought not sold. Branding serves to “pre-sell” the product or services to the potential prospects. Hard-selling has been incorporated into the brand itself. In the age of multimedia and rapid development of internet, the verbal endorsement of a product is rather in the brand name itself.
The power of a brand lies in its ability to influence people’s purchasing behavior. So if you are still not focusing on brand building your business may not be able to strive for very long.