It is well said that there are no superior products, but only superior perceptions in consumer’s minds. How do you name an entity you buy from a brick-and-mortar store or online platform? Is it the product name or brand? We always find ourselves struggling between these two important institutes- Better Brand and Better Product.
It is essential to know the differences between the two to understand better and make your buying decisions more resourceful than ever before. Although, we can’t deny the fact that the terms are interlinked. Scroll through to read some fundamental differences between branding and product individuality. The below points will help you comprehend their independent preeminence in the market.
Products are created while Brands get created
A product goes through several physical and machine processes until it is a readily usable entity. It is an innovative creation of the company and its resources. Similarly, ‘services’ provided by an enterprise are a part of their business that is created tracking consumer’s demographics and behaviors in the present time and current trends.
On the contrary, a brand is built with time with the efforts of the company by reaching larger audiences and influencing more number of consumers. A brand is also developed by consumers and clients, their perceptions and beliefs. The brand is something that is transferred from one region to another and one set of people to another.
Products can be Mimicked but Not the Brands
The title says it all. Like we have several competitors producing a similar product with a minute feature change, a specific product can be copied several times by multiple companies. Each sector today faces a rigorous competition when it comes to excelling product quality. Some years ago, we never had a concept of social networking, and now you can see how social media is growing, and there has been a lot of platform such as Facebook, Instagram, Twitter, SnapChat, etc.
However, the brands on Instagram offers unique features and appease customers and giving them great Instagram experiences. The brands can reach out a lot more people when they buy Instagram views from instaboostgramdotcom. People have an emotional connection with the brand name. It is difficult to replace a preferred brand with a novel and a fresh one.
Products can lose their Value but Brands are Eternal
In 2015 ‘Volkswagen emissions Scandal’ created veritable anguish in the consumer’s minds and pulled them back from believing the brand value of this car service as they found the ‘defeat device’ in diesel engines of VW cars.
You may think of it as a brand losing its worth. But why then the VW cars still sold and bought? Because the consumers yet again got lured by the rebranding of VW since the brand’s uniqueness and status had always created positive vibes in their minds and hearts. We had that soft corner for Volkswagen and its products like Polo, Vento, and others.
It was later realized to be a phase- an off-track execution that the company thought could make profits. But consumers still had that admiration left in their hearts (which was eternal) and thus, VW dragged everything right on the track.