Branding is extremely important for any business, be it an SME, an entrepreneurial venture or a big corporation. Big corporations and multinationals are well aware of the importance of branding and have created and cultivated strong brands worth fortunes over the decades of their operations. It is high time that online and small business also learn the value of branding, start implementing it with meticulous care in their strategy to reap the benefits of the concept.
With the advent of online businesses and easy loans available for SMEs and entrepreneurial firms, there are a plethora of organizations out there, each trying their best to provide the best advantage to their customers. However, for customers, what matters the most is the kind of promise that the organization is making to them, and if the promise will be upheld time and again. Therefore, in totality, branding is the sum total of the perceptions that the customers have about the organizational offering. This organizational offering entails not just the product itself, but also the services, the logo and packaging, the reputational management and the kind of marketing efforts entailed to bring the product to the customers.