A Brand vs A Business - What are you building?

People often tend to use the words “business” and “brand” but they are not the same.  The difference between building your “brand” and building your “business” is that - business is what the organization produces and offers as services to its consumers. But a brand is an image that your business projects in the minds of your consumers. But what exactly does that it signify? While a business and a brand are two very different things, one does not work without the other.

• A business comprises of a team of people within an organization offering services to their clients or consumers. A business engages with the market by offering goods at a fair rate.
• A brand is part of a business that connects the right dots in the mind of the customer regarding a particular product. It is the image of your business told through a story, design or creative copywriting that directly connects with the needs and emotions of your customer.

For people, the definition of a brand implies "the first name that comes to your mind whenever you think or hears about a specific product. That for them is a brand.” In other terms, a brand denotes its reputation.  Building a brand requires consistent delivery of high-quality products and services to the customers.  For brands like Starbucks, Coca-Cola, and Apple, their highlight of how these brands reached where they are today is because they have consistently produced and delivered the highest quality products in the market for years. This is what separates a brand from a business.

Consider for eg: Coca-Cola, an immensely popular beverage has now become synonymous with the term "soft drink." Its delicious and refreshing taste evokes feelings of nostalgia among its customers. The Coca-Cola Company manufactures and markets various other products under its umbrella including Minute Maid, Limca, Rani Float, RIM ZIM and Powerade. Coca-Cola is both a successful brand and business yet when it comes to soft drink, people go with Coca-Cola and not its other beverages. But when Coca-Cola launched the, now everyone's favourite, New Coke in the 1980s, customers didn’t like the taste and the brand reputation was damaged. So, what is it that made it into this uber-popular brand it is today? The answer is "Quality" and "the right advertising and marketing." Quality, like reputation, is an important foundation for building your brand.

This brings us back to our initial question -- What exactly separates a business from a brand? What does one have to do to be not called a business anymore but to be regarded as a brand?

A business becomes a brand only when it transcends its category of origin and is presented to the consumer in a way that directly hits their emotions. Coca-Cola is nothing but a mixture of carbonated water and a secret recipe that also includes sugar or high fructose corn syrup. But the way the brand's image is portrayed to the audience through years of advertising and marketing has today made it synonymous with moments of happiness with your family and friends. This simplistic, yet influential idea is what allows Coca-Cola to exceed the realm of refreshing bubbly beverages and become a symbol that people connect with at a deeper level.

To build a brand all it takes is an existing core philosophy of the business infused with the idea that connects with the viewers which build its reputation as a single world view product over time.

So, are you Building a Brand or a Business?

Building your business typically means growing your expanse and offering additional services to your consumers. Building a business will generate immediate results, but in the long run, your business won't be a success if you are not aiming to transform it into a brand. However, building your brand means keeping your reach focused on a single impression or thought that will embody your business and its emotions. It takes a concerted effort and the right advertising and marketing strategy to build your business into a brand.

To develop your business to build your brand identity. it's easier said than done, but not impossible. Are you willing to make the sacrifices necessary to transform your business into a brand? If yes, then head straight over to Nutshell Ideas. Let's discuss and build a solid strategic plan to transform your business into a brand over a cup of steaming hot coffee? Are you ready?