Branding Strategy is a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments. One important element of a comprehensive branding strategy targeted to consumers is television advertising. Although it may not be right for every business, TV is the most powerful media available to advertisers and it has the potential to dramatically impact a communications campaign’s success
5 Types of Branding Strategies
These brands are outsourced to the public for brand creation, which allows customers the chance to be involved in the naming process, and effectively drives up personal interest in a product.
2. Individual Branding
Sometimes a larger company may produce products that carry their own weight independent of the parent company. This Branding Strategy involves establishing the brand as a unique identity that is easily recognizable. General Mills, for example, distributes Cheerios, Chex, Cinnamon Toast Crunch, Kix, Total, Trix, and more—and that’s just the cereal division. The company also distributes other major brands from every food group.
3. Attitude Branding
Ambiguous marketing can often go above the actual product itself in the case of attitude branding. These brands all use Branding Strategy that bring to life personality and a customized experience with products and services. NCAA, Nike, and the New York Yankees made Forbes list of “The World’s Most Valuable Sports Brands 2015,” and are automatically associated with a certain style. Other brands, such as Apple and Ed Hardy, also reflect a customer’s self-expression.
4. “No-brand” Branding
A minimalist approach can speak volumes. No-brand products are often simple and generic in design. The most successful company to establish this Branding Strategy marketing method is the Japanese company, Muji, which simply translates to “no label.”
5. Brand Extension
Brand extension occurs when one of your flagship brands ventures into a new market. Say you have a shoe company that is now making jackets, athletic wear, and fragrances. The brand name carries its own identity to your product mix.