International Webinar 2023 - The Role of Digital Based Innovative to Improve Competitiveness – Part 17

Branding is important because it not only makes a memorable impression on consumers but also allows your customers and clients to know what to expect from your company. It's a way to differentiate yourself from the competition and clarify what you have to offer that makes you a better choice. Your brand was built to be a true representation of who you are as a business, and how you want to be perceived.


There are many areas that are used to develop a brand including advertising, customer service, social responsibility, reputation and visuals. All of these elements (and more) work together to create one unique and (hopefully) attention-grabbing profile.


Branding is very important for business because of its overall impact on your company. Branding can change the way people perceive your brand, can drive new business, and increase brand value – but it can also do the opposite when done wrong or not at all.


Let's get something straight: Reputations are built whether a business does something or not. The result can be a good or bad reputation. Understanding and using branding just means you take control and try to control what reputation is like. This is why it is advisable to consider branding from the start of your business.


Contrary to popular belief, branding is not "an expensive marketing tactic only used by big brands". On the other hand – branding has a lot to do with common sense and is heavily influenced by the market you are in and the level you want to play. Branding involves a consistent mix of competencies and activities, so costs can vary widely from case to case. High-level consultants and impeccable implementation will, of course, cost more than anything below that. Similarly, branding an international multi-product business will be much more challenging and resource-intensive than a local business, for example. There is no one-size-fits-all approach.


Branding is important when trying to generate future business, and a strong brand can increase business value by giving a company more influence in the industry. This makes it a more attractive investment opportunity because of its well-established place in the market.


The result of the branding process is a brand, which incorporates reputation and the value that comes with it. A strong reputation means a strong brand which, in turn, translates into value. That value can mean influence, premium price, or mindshare. A brand is a business asset that also has a monetary value and should have its own place on a business balance sheet as it increases the overall value of a company. While this is a controversial topic and a difficult task for many companies, giving a brand financial weight is just as important as the brand itself – this is called 'brand valuation'.

The material above was presented by a presenter from Pakistan in an international webinar held by STEKOM University in collaboration with Universities from Pakistan, Malaysia, and various other parties. The name of the presenter is Dr. Amena Sibghatullah who is an assistant professor and head of marketing college of management science, KIET University, Pakistan.


This international webinar activity is part of the implementation of STEKOM University's commitment to increase various international activities. This was done in order to realize the vision to become an international-class university. Various international activities carried out by STEKOM University continue from year to year. There are international activities that are sustainable and there are also some international activities that are not sustainable. All types of international activities are accommodated and regulated by the International department of STEKOM University.