“Broadly, a product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas” (Kotler & Keller, 2015).
This means that a product can be anything from a hotel stay, a flight, a language course, to clothes, food, a toothbrush etc.
To illustrate the definition of a product and the role it occupies in defining branding, as an example, water:
Water is a free resource that every human being needs to live and survive. Yet it became a product the day humans and companies started to commercialize it, for example by selling mineral water in glass and plastic bottles. But water always looks the same, isn’t it? It is liquid and transparent. So, how can different companies sell the same product but still convince people to purchase their bottled water instead of the one from the competition? The answer is: by creating a brand.
Let’s take a look at “what is branding” !
“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” (American Marketing Association).
You can consider a brand as the idea or image people have in mind when thinking about specific products, services and activities of a company, both in a practical (e.g. “the shoe is light-weight”) and emotional way (e.g. “the shoe makes me feel powerful”). It is therefore not just the physical features that create a brand but also the feelings that consumers develop towards the company or its product. This combination of physical and emotional cues is triggered when exposed to the name, the logo, the visual identity, or even the message communicated.
A product can be easily copied by other players in a market, but a brand will always be unique. For example, Pepsi and Coca-Cola taste very similar, however for some reason, some people feel more connected to Coca-Cola, others to Pepsi.
In the end, a brand is a person’s gut feeling about a specific product or company. Each person creates his or her own version of it, and some brands increase or decrease in popularity because of how consumers feel about them.
What is it?
“Branding is endowing products and services with the power of a brand” (Kotler & Keller, 2015)
Branding is the process of giving a meaning to specific company, products or services by creating and shaping a brand in consumers’ minds. It is a strategy designed by companies to help people to quickly identify their products and organization and give them a reason to choose their products over the competition’s, by clarifying what this particular brand is and is not.
The objective is to attract and retain loyal customers by delivering a product that is always aligned with what the brand promises.
Who does it affect?
1. Consumers: As discussed above, a brand provides consumers with a decision-making-shortcut when feeling indecisive about the same product from different companies.
2. Employees/shareholders/third-parties: Besides helping consumers to distinguish similar products, successful branding strategies are also adding to a company’s reputation. This asset can affect a range of people, from consumers to employees, investors, shareholders, providers, and distributors. As an example, if you don’t like or don’t feel connected to a brand, you would probably not want to work for it. However, if you feel like the brand understands you and offers products that inspire you, you would probably desire to work for it and be part of its world.
advertising and communications
product and packaging design
sponsoring and partnerships
the visual identity of the brand (logo, website and colors, are just some examples).
In our example of branding water, packaging design and advertising are perhaps the most powerful tools used by marketers:
– Packaging design is the silent salesman that will grab busy consumers’ attention in-store. It informs consumers about the product’s properties and visually differentiates the brand from the competition on-shelf. A successful example in my eyes is Fiji Water, which managed to create a beautiful bottle design that perfectly reflects the brand’s values: purity is reflected through transparency effects and nature is perceived through the image of tropical flower and leaves in the background.
– Advertising is a powerful tool to create and shape a brand universe as it is very visual and tells a story about the product/company.
Here are some examples of branding water through advertising:
That said, implementing the standard requirements is important to assure your product and to gain customer confident. While branding give your business the professional image it deserved. Beyond just a memorable logo, good branding increases the value of a company. Let Magcolm Solutions help you and your business to expand and safe guard your brand as it benefits the company in the long run.