For you to make a wise choice as to which is more important, marketing or branding, you will need to know what both are and what they both encompass before you are able to determine between the two.
Look at the definitions first –
Marketing as defined is an activity using a course of action to prompt a change in behavior over a permanent or short-term basis by the creation, communication and delivery of something considered to be of value by an individual in exchange for a form of payment.
Branding as defined is a strategy to include the creation of an image or logo and a name or tag line that will separate itself from others in the marketplace in the mind of the consumer and then to maintain the attraction first held by the consumer by implementing advertising campaigns with this consistent theme.
Points to Ponder –
- Marketing is the promoter and the Carney Barker.
- Branding is the Founding Fathers and the Bill of Rights.
- Marketing tells you what is wrong and then tells you how to fix it with their product.
- Branding will tell you this is who I am and what I stand for. Based on these attributes, you can decide to choose me or not.
- Marketing uses tactics.
- Branding uses strategies.
- Marketing supports their brand.
- Brandings persona will remain with a consumer after any marketing campaigns are completed and if they made a purchase or not, will stay with the consumer.
- Marketing is to find and to persuade a consumer to purchase the product.
- Branding will be determining factor to a consumer’s loyalty to continue to purchase from the Brand and with that loyalty, the consumer becomes a spokesperson for the product and the Brand.
Branding or Brands can be anyone or anything. Everyone and everything has marketing, even without a specific department.
- Marketing exists in any type of organization, cohesive group and in all companies and businesses.
- Marketing’s personnel is everyone associated with your Brand and everything that they say or do will either build up or tear down the Brand and affects any sales you may have.
- Marketing with research and campaigns executed well are the deposits that gives sales and Brand recognition its returns on investments.
- Branding is consumer loyalty and shares those returns on investments with:
- Sales personnel who have a name and integrity behind them to sell a product to loyal consumers.
- Staff who work longer and harder to maintain that loyalty.
- Consumers who appreciate and continue to speak well of and stand by the Brand through good or bad times.
To summarize Branding and the overall influence it has in the marketplace, consider these statements.
Branding is as important and necessary to a company or business as having:
- A strong financial base.
- A vision of their future.
- A clear mission statement.
- A concise business plan.
- Goals of what the Brand will accomplish.
- Devoted employees.
All of these lead to consumer loyalty and that will make your decision of which is more important pretty one sided and Branding will win by a landslide.