Branding plays an extremely significant role in a successful marketing strategy, an expert has said.

Steven Cheliotis, director and chief executive of The Centre for Brand Analysis, said those outside of the industry may see branding as simply a few creatives designing a nice logo, but it is much more than that.

He explained that brands are the major competitive advantage an organisation can have before, during and after a recession.

“In a world where service is quick and product innovation is very swift, there’s not much to differentiate [between] different providers [other] than the brand and the reputation,” Mr Cheliotis said.

He also pointed out that ultimately, a good brand exists to do two things: to allow a business to sell more of a product and to give firms the opportunity to sell products at a higher premium.

According to Milward Brown, brands that tailor their approach according to the specific market they are targeting tend to enjoy much more success.

Posted by Julie Knight, Managing Director – General Marketing, Industry News

Related Topics: General Marketing