If you’re planning to start a new business, you should know that some established brand names are operating in the industry. If so, you need to invest in branding marketing strategies to compete with those established brands. So, which styles of brand marketing strategies should you be adopting?
Continue reading this post if you are not aware of the branding marketing strategies you can use to build your brand.
What Is Brand Marketing Strategy?
You need to understand branding before one can know what brand marketing strategy is. Branding is the process of putting a label on a product or service to show that it belongs to you or your company. On the other hand, brand marketing strategy defines how, where, when, and who to communicate your brand messages. A well-defined brand marketing strategy can lead to a consistent brand message and take your business to the next level.
Why You Need A Brand Marketing Strategy
A brand marketing strategy is essential because we all live in a world driven by perception. A brand marketing strategy gives clarity about the competitive landscape, customer expectations, and market position. Branding enhances your business’s market performance by building credibility and improving name recognition.
Different Styles Of Brand Marketing Strategies
Now, let’s explore the different types of brand marketing strategies to help grow your business. Here are the most commonly used brand marketing strategies:
Company Name Branding
Company branding is used for all the company products and services. This type of branding strategy is often used to establish a company’s personality and character. Companies such as Coca-Cola, Pepsi use this form of branding to present their new and existing products to the public.
It allows a company to create a feeling about their products and services, giving the brand a fully formed personality and portrays the lifestyle consumers want to be associated with. Companies like Nike or Apple use attitude branding to create the idea that consumers who use their products are unique.
A company can create a separate or individual brand to give a product range its own identity. Companies use individual branding if the product range has a different target audience. Individual branding provides greater flexibility by allowing a product range to be sold without misleading the consumers.
Brand Extension Branding
This is when a business has established and built its brand on specific products and services but plan to expand into another area. The company will benefit from the clients they already made with their existing products.
Companies use this to take advantage of consumers who love generic products. Retailers do this by allowing a manufacturer to produce an item and then label it with their company name. They release this item to compete and outperform those that they’re selling.
GUIÓN PARTNERS Can Help
At GUIÓN PARTNERS, we’ve helped many businesses in Los Angeles develop their brand marketing strategy by learning about their history and goals, and our team can help you too. If you need a Brand Marketing Firm in Los Angeles, contact us today at 646.340.5000 to schedule a consultation.