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In this article we are going to discuss and explain the essential difference between a Business, Brand and Marketing.

Theses are often confused — partly because there is a lot of overlap. To understand the difference between a business, brand and marketing, we need to look at their essential definitions. And for a more vivid picture, we will define them based on the value added or intended outcome.

What Is A Business?

You have a business, when you create, discover or resell a product, service or experience. And people are willing to pay for it. The last part is probably the most important. If people are not willing to pay, you likely are running a non-profit or a hobby.
A business is primarily concerned with two main things: adding value to the end customer and making more profits. A business adds value to their customer by solving that customer’s problem. The better your business innovates and solves the problem. The more value your customer receives.

You don’t need a well-defined brand to be successful in business. You simply need to solve a problem and make sure the gap between your cost to solve that problem, and what the customer pays — is as wide as possible.

This sums up, in its very essence, what a business is.

What Is A Brand?

A brand is when one or more people come together, united by shared values, beliefs, principles and all these in turn — define a way of life: which is also known as culture. A brand is who you are. Not what your audience thinks you are. Because a brand is intrinsic in nature, it means you really cannot create a brand. You can only define or develop a brand.

You might have heard many marketers say that a brand is what your customer thinks, believes, or perceives you are. This is incredibly flawed. A brand is not defined by the customer. It may evolve through customer interaction, but in its essence — the customer cannot define your brand.
Another issue with this type of definition is, people change often. Today you may feel one way and tomorrow another. Our emotions are volatile. In addition, if my brand is what my customer perceives it to be, then I have no control of it at all. No-matter what I say or do.

The best examples of good branding are Apple, Coca-cola, Harley-Davidson and Nike.

Yes, these brands have evolved in their offering and strategy, because their audiences have also grown and technology has improved. But what hasn’t changed — is who they are intrinsically. If you study them carefully, you will find that their core purpose and vision for the world, hasn’t changed very much. This is because their brand was defined and built on who they are.

I will write a more in-depth article on this subject.

What Is Marketing?

Marketing is simply: Communication. At the very heart of marketing, a business or brand is looking for ways to communicate to either a wide audience or a very narrow and focused audience, often referred to as a niche.

In business, marketing serves to communicate that business’ value to the end consumer and prospects. Marketers seek to understand how their business can reach and speak clearly to their audience. This in part means marketers concern themselves with data. The better they understand the customer, the better the business can communicate and improve their offering to better serve and add value to the customer.

In branding, marketing serves to communicate the business’ identity and purpose. Who is the brand? What do they stand for? Why do they exist in the world? Through this endeavour, marketing can identify and help the brand connect on a deeper, emotional and more meaningful level than just product, service or experience.

Takeaway

There is a lot more involved in running a business, defining a brand and marketing. This article serves the sole purpose of simply defining and helping you understand the difference between a business, brand, and marketing