Brands are not born of their own, but businesses grow them and that is the elementary difference between Business and Brands. Brands are the output of a business. Business is an entity and the image they build across is the brand they create.
While brands are process and strategy-driven, they are not built over a day. However, to involve in branding is to first differentiate what essentially a business is and what a brand is.
Amazon as a brand is a household name across the world. Back then in its formative years, would it have just sustained being a business and not establishing itself as a brand we know today? Perhaps No!! Amazon’s is a branding story one of the most successful, we know today.
Likewise, generally, people fail to identify business and brand are two different things. Every brand is a business but every business is not a brand, and, that is the basic classification.
Business broadly is about selling and buying of products/services, whereas branding is about creating an image of your business in peoples mind. Ikea Hyderabad store’s pre-opening campaigning and branding activities got a whopping 40,000 shoppers to the store on the very first day. That’s quite a curiosity building exercise, knowing Ikea is a well-established company worldwide and does not need to be sold to people.
The business generates money; brand not only generates money but also create followers, manages consumer behavior and creates a legacy. What better example than the brand Facebook that has hooked us all online. Facebook Membership base in India has outnumbered every other country membership including the US, the country of its origin. Today Facebook for most members is not just a social networking site, but a platform to promote and generate business.
Businesses sell and brands engage. Apple as a brand has, without doubt, created a niche in the international markets.
Experiences matter over quality and pricing. While businesses sell, brands orient consumer towards better experiences. Airbnb was established as a brand that broke the monopoly of hotels by bringing home away from home experience for travelers.
Business is driven by profits and brands are driven by people. Swingy as a brand came to bring a different level of comfort to its clients by delivering food from any food joint you chose.
Business is always under the threat of competition and brands foray beyond the competition. Reliance as a brand is overwhelming and has established such firm grounds that every competition, they have can’t match up enough.
Businesses usually comfort the monetary requirements of their employees and brands ensure their self-respect and pride. No better brand will fit here than TATA’s.
While businesses are all about products & services, brands are about consumer satisfaction. Uber rental cars have extended to its clients worldwide a highly satisfactory experience, because the rides are comfortable and therefore addictive.
Building a brand is not an overnight process, a brand has to be nurtured and supplemented to the market and consumer demands. The result is however more rewarding as compared to just having done your business.