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Branding Strategy

Introduction

Branding is one of the most critical aspects of a business. It reaches the customer’s heart and creates an emotional link between them. Many business owners who are a bit amateur are often confused about marketing and branding. Branding strategy is rules, regulations, and guidelines on how to build and develop your brand. Branding strategy is much needed to attain your milestone. In this article, we will discuss branding strategy.

  1. Purpose of Branding strategy
  2. Types of Branding Strategy
  3. Examples of some amazing brand strategy
  4. Branding Process Steps
  5. Conclusion

Purpose of Branding strategy

Behind every successful brand, there is one thing called strategy to attain success. A powerful brand strategy never fails to impress your audience. It might be a small song you create for your brand or a name or design or anything it can be. Brand strategy is very much crucial. It distinguishes you (your brand) from your competitor (competitors brand)

Good brand strategy attracts highly talented employees. It gives you a clear picture of your brand and also directs you to the way to achieve them. Having a strong strategy lets you communicate with your customer clearly.

Types of Branding Strategy

  1. Line Extension

    A line extension is basically giving some options to your customers. A line extension is when a company introduces products in the same brand but with different color, shape flavors, etc.,

    For example, when a shoe owner introduces a new designer shoe in the same category of sports shoe. When a boutique company introduces a new designer lehenga in bridal lehengas. These are giving extra lines and options to consumers. This is called line extension.

    A line extension is divided into two types

    1. Horizontal Line Extension: When the quality and price remain constant but the flavour, and colour of the commodity changes it is called horizontal line extension.

    2. Vertical Line Extension: When the flavour, colour of the commodity change but the quality and price changes to create luxury and mediocre goods.

  2. Brand Extension

    The brand extension basically means extending their brand to various markets and new syndicates. In a nutshell, brand extension means when a company uses its extended brand name to introduce a new product and commodity.

    Brand extension is also called brand stretching. Brand stretching has different types.

    1. Product form extension

    2. Companion product extension

    3. Company expertise extension

    4. Customer franchise extension

    5. Prestige extension or Brand image extension

    6. Brand distinction extension

    7. Component extension

  3. New Brand Strategy

    A new brand is when a company creates a new product along with a new brand. In the case of a new brand, a new brand costs much. Because it includes new strategy, advertising, marketing, sales personnel, etc., The thing which we have to not down in new brand strategy is if you have done it correctly then you can gain profit more than what you spent. So do it correctly.

  4. Flanker Brand Strategy

    When the company precedes a new brand into the store that previously has an issued brand with the alike goods division. Flanker Branding is crucial for business because it attracts customers from different markets and sectors. But the thing here is, the flanker brand is not for everyone who does business. Because it needs a lot of strategies and hard work. You should know answers to some of the questions like does your product trustworthy, will it create an impact on my existing brand, will it create an impact on my competitors brand, etc.,

Example of some amazing branding strategy

When we talk about brand, branding, and branding strategy, there are many many companies which marked their strong bran in people’s heart with their strong branding strategy. Let’s see some of the best examples of the strong and amazing branding strategy of some amazing brands.

  1. Hubspot

  2. Tesla

  3. Apple

  4. Nike

  5. Coca-cola

  6. Google

  7. McDonald's

  8. Microsoft

  9. Disney

  10. Facebook

  11. Samsung

  12. Amazon

  13. Nestle

  14. Zara

These are some of the amazing examples of branding strategies. They are very much creative, innovative. They worked so very hard to reach this level. Their strategies made them what they are now.

Branding Process Steps

  1. Pick your niche.

  2. Define your business goal. Short-term and long-term goals should be defined.

  3. Market research should be conducted. It’s very crucial to know about your audience and competitors.

  4. Highlight the things which make you and your business different.

  5. Handle your business like a person. For example, every human has some special characters, right? Character, talent, color, etc., differentiate.

  6. Maintain a good relationship with your community or society.

  7. Develop a good SEO optimized blog

  8. Build a strong social media presence to promote your brand.

These are some of the strategies you can do to promote your brand and this is a good branding strategy.

Conclusion

So, now you know what is branding strategy. The different types of branding strategy. Product line extension, Brand extension, new brand strategy, Fighter brand. We also saw some of the great examples of branding strategy. Hope the article helps.

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About Shravan Kumar

Shravan Kumar is a digital designer & certified Adobe instructor, Certified Ethical Hacker and Certified Data science Expert. He has 6+ years experience. He is a Designer & Art director with specialization in the fields of branding, UI/UX Design, design for your social media, packaging design, and related visual communication for your brand as well as a Web Developer.