These two terms are often spoken of in the same breath; but are they really synonymous?
I’m sure you must have heard of both these terms tens of thousands of times every day. Every business owner would tell you how marketing and branding are really critical to their success. But have you ever wondered what could be the difference between these terms, which get thrown around casually?
So, here’s the list:
- Marketing primarily drives sales, while branding helps build recognition and a favorable image in the market.
- Marketing involves the process of making strategies — these can be dynamic and depend on the situation. Branding on the other hand, is less prone to regular changes.
- Marketing is a way to get attention of your audiences; while branding is the reason they choose to keep their eyes glued to your product.
- Marketing proceeds branding efforts. i.e. Branding comes first. You build a brand identity and then use marketing to effectively take it to the market for your product/service.
Marketing is a key function to attract customers and generate revenues. Branding helps these customers stay loyal to the offerings. Understanding the differences may just help get better value from both functions.
Few points taken from this article.