Hospitality Branding: How is it different from traditional branding?
Branding. Let’s start there. Branding, or brand management,
is a key step in business strategy that the vast majority of people are unaware of, including CEOs. It is often mistaken for marketing despite being much more ambitious when it comes to the scope and deep understanding of a business.
In its purest form, branding encompasses the strategy, development, design and communication of a brand
which can also include marketing. The goal of branding is to improve the reputation of a product or service in the market, differentiating it from its competitors to ultimately increase sales.
A common mistake is to think that branding is limited to the design of graphic elements such as the logo or typography when these are only a short stage in the management of a brand. Branding goes much further and is much more crucial to the survival of a business than is commonly believed. It begins by creating intangible attributes such as a brand promise and brand values from a process of market analysis and target audience research. It is a process that takes into account social, political and economic trends, as well as individual and group psychology.
The objective is to lay the foundations of an emotional connection between the consumer and the product so that the former identifies with the latter based on their values, personality and tastes.
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