Basics of Marketing in Modern Business

Branding is a marketing practice during which a company creates a name, symbol, or design that can be easily recognized as belonging to the company. It is important because it not only leaves a lasting impression on consumers but also lets your customers know what to expect from your company. This concept is often metaphorically likened to building a physical structure. Just like constructing a building from the foundation to the roof, branding involves the gradual development of a brand identity. Why is branding important?Branding is critical to business due to its overall impact on your company.Effective branding can alter the way people perceive your brand, attract new business, and enhance brand awareness.Strong branding generally leads to a positive impression of the company among consumers, increasing the likelihood of doing business with you because of the familiarity and perceived reliability associated with a trusted name.Once the brand is well-established, word-of-mouth will become the best and most effective advertising technique for the company.These revisions ensure the text flows more smoothly and improves clarity while retaining the original meaning and intent.

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Dr Bojana Ostoji is a professor in the Faculty of Project and Innovation Management at Educons University, Belgrade. She is the author of numerous scientific papers and a participant in local and international projects. Her areas of interest are: marketing, digital marketing and human resources.