Branding is the perpetual process of identifying, creating, and managing the cumulative assets and actions that shape the perception of a brand in stakeholders’ minds.
Perpetual
It means the process never stops. The brand values should be consistent, but because market rules change continuously your brand should evolve.
Identify, create, and manage
This is a process where you must first identify who/what you want to be to your stakeholders, create your brand strategy to position yourself accordingly, and then constantly manage everything that influences your positioning.
Cumulative assets and actions
Your positioning must be translated into assets (e.g., visual identity, content, products, ads) and actions (e.g., services, customer support, human relations, experiences) that project it into your stakeholders’ minds, slowly building up that perception - aka experience
Perception of a brand
Also known as reputation. This is the association that an individual (customer or not) has in their mind regarding your brand. This perception is the result of the branding process (or lack thereof).
Stakeholders
Clients are not the only ones that build a perception of your brand in their minds. Stakeholders include possible clients, existing customers, employees, shareholders, competitors, business partners, government, and media. Each one builds up their perception and interacts with the brand accordingly.