The 4 Key Differences Between a Brand and Branding

The 4 Key Differences Between a Brand and Branding

Separated by a mere three letters, there’s a world of difference between the words “brand” and “branding.”  Too often, they are used interchangeably and interpreted in many different ways.  Common terms associated with both words include “naming,” “identity,” “tagline,” “packaging,” “advertising,” and so forth, mainly centered around tactical elements. In our experience working with organizations in the service sector, the difference between the two ideas comes down to this:  A brand is a destination, where you want to end up, while branding is the journey or the roadmap to get you there. There are other important differences between the two terms, some dealing with dollars and others that just make sense. A brand is a goal; branding is a strategy. From the breakthrough book, “Positioning – The battle for your mind,” (Trout and Ries), establishing a market position is a goal, it’s where you want to end up.  Similarly, owning a brand (position) is where you want to be in the minds (and hearts) of your customers. Branding, on the other hand, is the multi-phased process of securing that position and includes key strategies around the developmental, operational, promotional, organizational, and cultural building-blocks of brand development.  This Blog has a dedicated post on these steps if you’re interested in learning more about these phases. A brand is an asset; branding is an investment. As it is often written, brands are the most valuable assets that companies possess.  According to Millward Brown, a worldwide market research company, brands account for more than 30% of the market value of companies in the S&P 500.  Relatively new branding companies such as Nike...
Subscribe to Our Newsletter
Sending
Real Time Web Analytics