What is Marketing?
Marketing is a process that involves identifying the potential customer, analysing their needs, targeting them with the product and services and inculcating an interest to buy a product or services. Marketing is a process that brings both the company and the customers together to exchange goods and services. The aim of marketing is not only selling a product or services but also building a relationship with the customer, maintaining that relation, and generate revenue for a long time. The essential elements of marketing, the 4P’s – Product, Price, Place and Promotion determines the growth of a product that leads to profitable sales.
What is Branding?
Branding is an amalgamation of different things like name, logo, sign, slogan that helps the customers to recognise and differentiate a company from other sellers. Branding involves creating a unique name, images, logos for a product that settles in the mind of the customers. The uniqueness helps the customers to recognise a particular product, establish the fondness and build trust. Brading is one of the marketing practices that aims to place a remarkable presence in the market, attract customers, develop confidence, enhance their experience and retain them for a longer time.
Given below in a tabular column are the differences between Marketing and Branding.
| Basis | Marketing | Branding |
| Meaning | Marketing brings the company and the customers together for an exchange of goods and services | Branding is a creative process that helps customers to remember a product by their name, logo, image, etc., |
| What does it do? | Cultivates customers | It builds trust |
| Influence | Motivates customers to buy products immediately | Influence customer to buy a product by leaving an impact in their mind |
| Creates | Aims at creating customers need | Creates a healthy and strong relationship with a customer |
| Policy | Push customer to buy | Pull customers to buy |
| Generates | Needs | Relationship |
| Target Audience | Marketing is for business | Branding is for Customers |
| Value | Promotes intended value | Creates value |
| Result | Marketing results in sales | Branding brings reputation |
The above mentioned is the concept, that is elucidated in detail about ‘Difference between Marketing and Branding’ for the Commerce students. To know more, stay tuned to BYJU’S.
Free Class
Very good