A well-branded product can transform a company. Companies have to change up their branding strategies as consumers become savvier. There’s no one-size-fits-all when it comes to marketing. Let’s explore a few different branding strategies for your business.
Individual Branding
If your company has a particular product that’s well-known, you may want to opt for an individual branding strategy. This strategy gives the item its own brand name. It focuses on specific branding to market the different products. Apple, for example, does this with the iPhone, iPad, and Mac.
Private-Label Branding
Store brands use private-label branding to compete with the larger, well-known retailers. They provide cost-effective options for different food items, medications, and first-aid equipment, to name a few products. You’ll find this branding strategy in many retailers.
Attitude Branding
A business can trust a general attitude to promote its products and reflect the company. This strategy draws a correlation between the customers and the brand. Nike uses this branding to encourage a healthy lifestyle and sell athletic shoes with their popular slogan.
Extension Branding
Let’s say you’re a company that sells cleaning products and you want to expand into the candle market. Your company will utilize brand extension branding to extend the success into a new venture. You may have added products to your company, but the core character of the business stays the same. You can do special promotions for your customers, such as adding a pack of branded matches with each purchase made, so they begin to think of your business when they want to purchase a candle.
Company Name Branding
Slogans, logos, colors, and packaging can be easily associated with specific companies. When companies leverage their business to improve brand recognition, customers will recognize well-known brands. For example, Pepsi and Simply Orange easily rely on company name branding to attract their audience.
You can implement any of these different branding strategies for your business. If you want to try out one or all of them, feel free! Don’t forget to contact MDM Branding to create custom merchandise for your business.