In the past, marketing was focused on promoting products, but nowadays, people tend to buy brands. Despite this, many business owners neglect brand development due to their busy schedules. In this article, we will explore the concept of brand development.
What is brand development?
Brand development goes beyond having a website, logo, color scheme, and tone of voice. It is a methodical and purposeful approach to establishing and setting apart your company’s image, offerings, and services from those of your rivals. It involves continually shaping, refining, and assessing your overall branding strategy. As a result, your strategy may transform over time as societal norms change and you reach new audiences.
What are the differences between brand development and branding?
The terms brand development and branding may seem similar, but they have distinct meanings and should not be confused.
Brand development is the process of creating a reputation and building a connection with your audience. It is like personal development for businesses and involves distinguishing your brand from your competitors.
Branding is the practice of promoting your brand or products. It is a part of the broader brand development process and involves executing your brand development strategies. Branding is design-focused and concerned with the practical aspects of promoting your brand.
Read more: WHAT IS BRAND RECOGNITION?
Why is brand development important?
To create a lasting business, you need to prioritize brand development. Successful companies have a well-planned and regularly reviewed brand strategy to guide their marketing decisions. A strong brand strategy allows for a targeted market position, time and budget efficiency, and team alignment.
Even established brands can lose their market share as new brands emerge and consumers’ attention shifts. This highlights the importance of continually strengthening your brand, as failure to do so may lead to losing the attention of younger generations.
Conclusion
Building your brand and witnessing its growth can be an exhilarating journey. ShangHai offers a diverse selection of business branding solutions to assist you in the process. If you’re interested in learning more about our services, don’t hesitate to get in touch with us.