Branding

Branding is the marketing practice of creating a name, symbol or design that identifies itself. It also differentiates a product from its competitors. People will easily recognise a well-known brand even if they do not know about the company or its product and service.

Figure 11: Nike Logo

For example, people can identify the name and logo of Nike even if they have never bought any of their products because the Nike brand is known throughout the world. However, not only its company name a brand, but the logo (‘tick’ symbol) is a strong identity on its own and people can identify Nike by the symbol alone.

   

Figure 12: Standard Chartered Marathon   

Figure 13: OCBC Cycling

Companies should differentiate themselves from its competitors as brands that are perceived as different have much higher chance of growth than other brands. For example, Standard Chartered and OCBC bank, both are banks however they differentiate themselves by sponsoring to different events. Standard Chartered have been sponsoring marathon which is held annually since 1982. However, OCBC sponsor cycling since 2009. 

In addition, OSBC is the largest sponsor of Garden by the Bay to date, with sponsoring of OCBC Skyway and the OCBS Garden Rhapsody. When the companies sponsor for SLL, there will be a differentiation of them and their competitors. This not only increases the company image but also link the company to sustainability as SLL is all about creating a sustainable building.