Branding is a very important component of your business’ or product’s identity. Most of the companies today develop their brand because they want to be known in such aspect. Branding builds trust to the customers because it gives them the assurance of the product quality they are consuming. There may only very few or sometimes no one buys products or services from a company that has a brand with low quality or credibility.
A brand is a name, term, design, symbol or any other feature that identifies one seller’s good or service as distinct from those of other sellers
Here is a simple example to demonstrate the importance of branding to explain that a visual style is not a brand.
Imagine you have won a bag. Woohoo!!! Free bag! You get to choose between two similar bags. ‘With the same color and same appearance but the only difference between them, you are told, is that one is made by Unknown brand and one is made by Louis Vuitton.
A lot of entrepreneurs or SME owners missed the importance of branding. They simply think that branding is a visual style composed of a simple name, logo and design of their businesses. Or worst, most of them don’t even care about their business brand at all because of their wide business operations.
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