The topic of Branding vs. Marketing a few weeks back generated a lot of discussion on LinkedIn groups (all very civil, thank you). The discussions provided a lot of food for thought about brands, branding and marketing—the distinctions, intersections and overlaps. I am thinking specifically about these subjects in terms of start-up companies.
Let’s start with definitions for these areas as it may help in sorting out the topics (I’ll be using the word “product” to reflect both products and services):
Brand – The place your company or product holds in the minds of customers and prospects based on the value they perceive.
Branding – The steps a company takes in determining what it wants the brand to be in the mind of customers and prospects and the actions it must take, internally and externally, to increase the likelihood customers and prospects will have those desired perceptions.
Marketing – The actions required to develop a product, bring it to market and convince prospects to purchase or customers to repurchase. It is the broad scope of the 4Ps (Product, Price, Promotion, Place), rather than just the elements often handled by a Marketing Department.
November 16, 2013 in Marketing