A brand is a logo, mark, symbol, name, etc. that creates point of difference amongst various organizations in the market place. I believe that it gives a product or service the expression that differentiates it from other brands seeking to satisfy similar needs. Therefore, branding is the process of using a name or logo to create a sustainable competitive advantage in a market. In today’s market, names are not relevant to the products, unless the customer associates his/her choice with its meaning (Sheehan, 2011).
Recently, branding has played a major role in promoting recognition. I believe customers want reassurance that they are using a safe product or service. Many people easily identify Coca-Cola, for example, with a quality and popular product and the brand attracts them. In addition, it helps an organization to stand out in the market. Customers thus know what to expect from the organization or a particular brand. Properly managed brand helps the organization to gain some advantages, such as strategic options, habitual buying, and so on (Kotler, 2000). Brand is valuable and therefore must be maintained in order for the organization to build its reputation.
Personal branding is a process when an individual markets himself or herself as a project. It is about taking control of how other people look at you, and being able to act strategically to help in achieving your goals. Despite advancement in technology, digital tactics like using social media, face to face communication or advertizing are becoming important ways of creating personal awareness (Middleton, 2012). Therefore, it should be built on your personal values, strengths, uniqueness that distinguishes you from your competitors. The world’s most influential people like Oprah Winfrey, Bill Gates and others have strong and well managed brand names. It is a major way to personal success. The new strategy for today’s generation is being able to quickly share your observations and knowledge. New professionals need to be able to differentiate themselves faster.
First step in personal branding is to define and formulate your personal attributions, analyze your personality, and what other people say and think about you. These are skills, values and talents. One needs to create a brand by analyzing what they want to achieve. This can be managed by setting long term and short term goals. One also should know how to different him/herself from the competitors. The third step is to publicize the message. This can be done through media, word of mouth, social network and publications. The final step is to implement the brand by showcasing personal interests and strengths.
Product branding compares to individual branding in creation of an outer image. Individual qualities like hygiene, personal grooming , etc, and unique specifications of a product define the image. The use of a name portrays a characteristic that differentiates them from their competitors. However, personal branding involves analyzing personal attributes, while in product branding, it is about finding a suitable identity of a product. In product branding, publicizing is done on the product. In contrast, personal branding is done on an individual.
A personal brand creates an image in people’s minds. It should be developed and managed properly. Capabilities, expertise and experience help create an individual identity. In order for personal branding to be a success it must be closely connected to individual values that strengthen it. Therefore, a personal brand is a necessity in today’s world of individual marketability.
References
Kotler, P. (2000). Marketing management (Millennium ed.). Upper saddle River, N.J.: Prentice Hall.
Middleton, S. (2012).Brand new you reinventing work, life & self through the power of personal branding. London: Hay House.
Sheehan, B. (2011). Marketing management. Lausanne, Switzerland: AVA.