Companies across the world held meetings on the topic of Branding and Marketing but least they understand the main differences between these keywords. To them Branding is selling their product, Marketing is the ways of selling and Selling is simply acquiring money from the pocket of customers.
Every year thousands of companies start and hundreds of them are forced to shut down. Some of the very big names from the entrepreneurial world have succumbed to the pressure of shutting down because of their wrong policies. It is very important to understand the concepts and niches of businesses intricately. When you have the requisite knowledge of business and marketing and you make its proper use then you will scale heights but a lack of understanding will make your exquisite business face the downfall.
Branding in simple language can be defined as “Delivering the Promises”. Every enterprises gain a set of loyal customers on the base of promises it makes and it is very important for you to abide the promises you make to the customers. Reliance India made a promise of providing phones into every innocuous hand and till date it is making endeavors to make this dream a reality.
Marketing in a layman can be defined as the strategy that is used to achieve the product advertisement, discounts on products and customer satisfaction. Marketing is done for the benefits for both the parties. Every enterprise depends on marketing for reaching out to the customers with the best of deals and with the best of customer satisfaction while branding is about keeping the promise intact even when you are leveraging with hundreds of discounts on your products.
Selling is way different from Marketing and Branding. Selling is all about procuring the basic investment made into the production of products. Companies define selling as the basic exercise of revenue generation. The whole functioning of a company depends on selling for functioning well. Marketing and Branding is also dependent on selling, it is the money from selling that is used for converting your company into a brand and doing marketing for increasing the sales of the company.
It is important for companies to understand these differences and develop a strategy according to the same. It is very important for the companies to strategize and plan before spending a huge part of its revenue on marketing and branding.
The world is becoming a competitive place, companies are pouring into the market but a company with better brand trust and with marketing strategy will decide that which company is going to lead the market. A company who has a trust worthy brand and a competent branding strategy will make ripples in the wave of success.