Here are a few types of branding strategies that will help you go there – • When you start your own business based on a particular product, say a mobile phone, the very first thing you do is – build brand equity. In order to build the brand equity, you use various kinds of branding strategies in marketing. • There are many ways you can build a good rapport of your product in the market. • With the help of cross-channel marketing coupled with various marketing and branding tools your product will result in strong growth.
1. Name brand recognition strategy – • You might have seen big sign boards or hoardings bearing names of the product or the brand of the products. • This is name brand recognition strategy. It can be names – logo—slogan—or different colors which depicts the brand particularly. • The greatest examples are – KFC, Samsung, Apple, and Mercedes-Benz who use the name brand recognition strategy.
2. Individual Branding – • There are a lot of companies; especially big companies who that produces one individual products that carry their own weight independent of the parent company. • This strategy involves establishing the brand as a unique identity that is easily recognizable.
3. Attitude Branding – • There are a few products that sell because it has an attitude. • These brands use various strategies that help them build an attitude and bring personality to the brand and make them look really amazing. • The brand “Nike” is one of the best example in the same, which was awarded as the “World’s most valuable Brand in 2015”.
4. Brand Extensions – • There are a lot of brands who keeps extending the number of products under their labels; for example, the Victoria’s Secret lingerie group has now extended their brand to fragrances; and many other fashion brands keeps extending from just clothes to shoes, accessories, and such. • This brand extension technique helps the brand to get more recognition and brand value.
5. Co-Branding – • When you are working alone, there are few times you may not be able to get much success; but if you merge with someone or some other company and apply the concept of co-branding, it can help you get more attention. • For example, mini-marts attached to gas stations, banking facilities within grocery stores, and Laundromats attached to anything from bowling alleys to family entertainment centers.
This branding falls in the “one-stop shopping” category. It helps you to get much more attention than you ever used to get.