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The moment you hear the word “branding”, what comes to mind? If you’re thinking about marketing or brand advertising, then you’re not exactly wrong. But there’s a little more to that.
Branding is the action of creating your own brand identity and strategy. Marketing, on the other hand, deals with how you create brand awareness. They’re interrelated and work together to achieve your business goals.
This blog deals with the essentials of brand strategy and its types. So, without further ado, let’s dive right into it.
It’s 2024, and you already know branding is the key to your business’ growth.
76% of Gen Z consumers state that they like to buy from brands that stand for a greater mission or purpose. The right branding in marketing management will pave the way for your business and get it recognized among a million others.
However, that’s not all it does. You need branding for your business for other reasons too:
A brand strategy is a system or framework that decides how your brand shows itself to the audience. It helps you create a strong and positive perception of your brand in the minds of the consumers.
It includes information on your company’s mission, vision, and value. It shapes the view of your firm in the minds of potential clients. So, a valuable branding strategy is the face of your brand.
Although brand strategies rely on the perception of the viewers, it isn’t the same as brand identity. Brand identity is your brand’s visual elements—logo, color, typography, tone and voice, etc. However, the brand strategy is how you use these elements to influence a consumer’s view.
To create a branding strategy that speaks for your firm, it is essential to create one that perfectly aligns with what your business has to offer. Here are a few branding strategies to help you get started.
Branding strategies are manifold and can be utilized as per your firm and its preferences
Corporate branding focuses on creating a strong brand identity for the entire company. It includes:
Tata Group, a conglomerate surrounding diverse sectors like steel, automobiles, IT, and hospitality is the best example of such corporate branding decisions. Their brand identity emphasizes on trust, innovation, and global reach.
This strategy deals with creating an identity specifically for retail stores or chains. It includes:
Think of Big Bazaar, a retail chain using a playful brand image to cater to Indian families. Their in-store experience focuses on value for money and a wide product selection.
This strategy creates a unique identity for individual products within a company’s guide. Its elements include:
Parle-G Biscuits is one of the best examples of this. This iconic biscuit brand has transcended generations with its simple packaging and focus on affordability and taste.
Similar to product branding, but focuses on building an identity for the services the company offers. Its key aspects are:
Think of ITC Hotels. This hotel chain offers a range of properties under different brands like WelcomHotels and Vivanta. Each brand caters to a specific segment, like business travelers or luxury seekers.
This strategy relies on the reputation and characteristics of a particular location for promoting any product or service. It commonly uses:
When you think of Darjeeling, you think of Tea. Likewise, you think of chocolaty treats whenever Ooty is mentioned. These are the ideal geographic branding examples.
This brand strategy leverages a range of cultural trends, values, or movements to connect with specific audiences. It involves:
Fabindia is a clothing and lifestyle brand promoting traditional Indian textiles and crafts. Their brand image embraces cultural heritage and sustainability.
These types of branding strategies create a strong personal brand for an individual. Its elements include:
Well-known examples of personal branding are Manish Malhotra and Sabyasachi Mukherjee. They have cultivated a distinct brand image associated with luxury, elegance, and Indian fashion.
This brand strategy involves a partnership with another brand to create a new product or service. They help you
Uber and Spotify’s partnership is one of the successful co-branding examples of two tech giants leveraging each other’s strengths to enhance the customer experience.
Also known as conscious branding, these types of branding in marketing position a brand as a champion to support an environmental or social cause. Its key elements include:
The Body Shop India actively promotes fair trade practices and supports local artisans in India, aligning with their global commitment to social responsibility.
This brand strategy highlights a specific ingredient or component within a product. It’s commonly used for:
A well-known example of this is Dabur Chyawanprash. This traditional health supplement highlights its key ingredient—Amla, rich in Vitamin C and known for its health benefits.
Among the various features of branding, this strategy focuses on creating a strong online presence. It includes:
Nykaa, a renowned example of online branding, has built a strong online presence through influencer marketing, user-generated content, and engaging social media campaigns.
This strategy focuses on creating a strong brand presence in the traditional world. It includes:
MRF Tires is an example of this brand strategy. This brand uses TV commercials featuring the iconic MRF logo and catchy jingle to create a strong offline brand presence.
This type of branding strategy involves changing a brand’s identity, often due to:
Air India recently underwent a rebranding, updating its logo, uniforms, and in-flight experience to cater to a more modern and global audience.
This strategy involves intentionally removing some branding elements from a product or service. This is generally done to:
The best example of such types of branding is DMart. This retail chain by Reliance offers everyday essentials with minimal branding, focusing on competitive pricing and bulk-buying options.
These types of branding strategies involve using a single brand name surrounding a variety of products or sub-brands. Its benefits include:
Think Unilever or even ITC Limited. ITC Limited conglomerate uses the ITC brand name across diverse offerings like biscuits (Sunfeast), and paper products (Classmate).
Similarly, Unilever has an array of products across various categories like personal care (Dove, Axe, Sunsilk), food and beverages (Lipton, Knorr, Ben & Jerry’s), and others.
This strategy focuses on a product or service with minimal or no branding elements. It’s often used for:
Wholesale stores are an accurate example of “No-brand” branding. Many wholesale stores in India offer generic products with minimal branding, catering to price-conscious bulk buyers.
The right types of branding strategy depend solely on your brand—its purpose, identity, niche, and target audience. Hence, no matter what strategy you choose, make sure it aligns with your company.
The right strategy will kickstart your firm in the market. Through the right branding, you can easily furnish your business with its authentic self and connect with your target audience.
At Raysoft, we tailor our strategies based on what your brand needs. So, what are you waiting for? Contact us today to get started with the right branding for your business.
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