Theoretically, A brand is a unique design, sign, symbol, words, or a combination of all these, employed in creating an image that identifies a product or service. A brand is important as it distinguishes your product or services from that of your competitors.
Branding is the process of creating and disseminating the brand name. Branding can be applied to the entire corporate identity as well as to individual product and service names. Branding is vital to a company as it refers to the perceived image and subsequent emotional response to a company, its products and services. Company should place great emphasis on branding as it affects the level of credibility, quality, and satisfaction in the consumer's mind.
In business, a brand is the reflection on how your business represents itself to your customers and the public. With a clear idea about how to best talk about your brand, you can probably have better opportunities to create a lasting impression, and gain new customers and more business.
In an increasingly competitive global market place, strong branding can help businesses achieve their main business goals: increase the total worth of the business; drive revenue growth; make the company more attractive to the right sorts of new recruits; improve the effectiveness, efficiency and economy of internal process; reduce procurement costs from suppliers and improve their customer service.
A brand planning team is assembled to provide insight in the market situation and input into the plan itself. Sometimes an external facilitator is used to create a neutral environment, whereas other times somebody internally manages the meetings and the process flow. Either way, a lot of planning is required, particularly on behalf of the marketing team. Careful planning is critical to ensure that all brand plan timelines are met.
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