What is the primary goal of marketing and branding?

The primary goal of marketing and branding is to create intangible value. This intangible value encompasses the perceptions, emotions, and associations that consumers make with a brand, which go beyond the physical attributes of a product. Effective branding aims to establish a unique identity and strong emotional connections with the target audience, increasing customer loyalty and fostering a positive image that can influence purchasing decisions.

Creating intangible value involves defining the brand's essence, mission, and vision, as well as communicating these effectively to resonate with consumers. It often includes storytelling, building brand reputation, and leveraging social proof, all of which contribute significantly to a consumer's overall experience and satisfaction with the brand. When a brand successfully creates intangible value, it often leads to increased customer retention, brand advocacy, and ultimately, a stronger competitive position in the market.

On the other hand, while minimizing product costs and enhancing physical product features may be important aspects of product strategy, they do not directly address the holistic experience and emotional connection that marketing and branding aim to cultivate. Increasing market share is also a common goal; however, it is often a result of successfully creating intangible value rather than a primary aim on its own.