Marketing Versus Branding. Is There A Difference? Part I Of II

Does marketing your product differ from branding your product, or is it just semantics?

Branding your product is the strategic process where you differentiate your product based on your core values, product category or the marketplace as a whole. Branding is the purposeful act of deciding what type of restaurant you are and how you want to be perceived. Building your specific brand closes the gap between what you promise and what you deliver.

Marketing your product is the implementation of the strategy of your brand. Marketing serves as a promotion and outward facing activities that define your product so that you can bring in customer traffic. A good marketing plan will communicate how your restaurant is different than every other restaurant in the industry. Many restaurants are finding success by marketing their products within. Basically, self-promoting or minimal advertising, along with excellent service and menu options, will provide much of the marketing that a restaurant will need.

Even though the two elements of running a business go hand in hand, developing your specific brand and finding your niche should be implemented before the marketing ensues.

You don’t have to be a big spender when it comes to marketing, especially in today’s sluggish economy. One case in point is how Starbucks operates. They spend more money on training their employees than they do on advertising their products. Their internal merchandising and menu are specifically focused. Despite being a nationwide company, they mostly ignore the mass media marketing and yet they are still one of the fastest growing businesses around the United States. Starbucks keeps their focus on their core product line and the flawless execution by
their employees.

Continue to Part 2 of this Post for the conclusion.