Branding and marketing are two vital business function that works together with the aim of increasing revenue. The activities are used to bring awareness of a product or company among people. They are so closely interconnected that people often do not realise the difference between marketing and branding. While marketing involves an array of activities carried out to sell a product or service, that starts from ascertaining the customer needs to provide them with the product required.
On the other hand, branding encompasses activities that create a name or an image of a product, by occupying a place in the consumer’s mind. It is not just about people choosing your product over the competition, but also, they are seeing your product as the ultimate solution to their problem. It helps in building long term relationship with the customers.
Major Differences Between Marketing and Branding
The differences between marketing and branding can be easily understood with the given below points:
1. Marketing is a range of activities carried out by the company to bring together buyers and sellers to promote the exchange of goods and services. On the other hand, branding is the practice of assigning a brand name to a product, which helps consumers recognise and identify the company producing it.
2. Marketing is for business while branding is for customers.
3. Marketing is used to cultivate customers, whereas branding is used to build trust and brand loyalty among customers.
4. Marketing influences a customer’s immediate response to buy. As opposed to branding which influences buying decision by leaving an impact on the consumer’s mind.
5. Marketing discloses the benefits of the product or service offered by the company. Conversely, branding showcases dreams.
6. When it comes to strategy, marketing is a push, but branding is pulling.
7. If we talk about value, marketing promotes intended value, but branding creates one.
8. The ultimate result of marketing is sales. Conversely, branding brings an enduring reputation.
9. Marketing aims at creating customer needs. Unlike branding, that aims at building a strong and healthy relationship with customers.
10. Marketing speaks to the target audience. On the contrary, branding speaks to emotions.
Content Courtesy: Keydifference.com