Companies often spend a huge amount of their marketing revenue to building brands. The strategy is to establish the product in a customerís mind. Once this is done, marketing the product becomes easy. The cardinal rule in marketing is to sell a brand and not just a product. Branding helps a company to reach its target efficiently and hold on to the target audience effectively. Branding also differentiates a product from what otherwise is a commodity to a brand that has personality and attributes.
A brand is different from a product as it delivers not just physical but also psychological benefits. These unseen benefits establish a brand in a customerís mind and marketers use various techniques such as testimonials, promotional ads and repeated advertising to popularize a brand.
5 Ps give a brand its character. Product, price, place, promotion, and packaging. One can find links to resources involved in providing consultancy and research support in all these areas. The inputs provided by such agencies are critical to making strategic and budgetary decisions. One can find links to communications agencies specializing in advertising, PR and marketing. There are associations of professionals involved in strategic business communication. Name creation, brand analysis, competition analysis, and demographic profiling services are some of the areas that one can find information about in this section.