Branding is the process of developing a unique name and identity for a product or business. Branding ensures awareness and credibility for a brand, creates customer loyalty, among other advantages. Building a brand takes time and involves a lot of resources. It is however an important marketing tool for stimulating recognition.
A product, service, person or place that is branded automatically develops a personality as well as reputation. Businesses and individuals can as such take advantage of the various types of branding that are available.
LET’S TAKE A QUICK LOOK AT A FEW TYPES OF BRANDING THAT BUSINESSES AND INDIVIDUALS CAN LEVERAGE ON:
- Product Branding:
This is the most common and easiest type of branding. Product branding is a symbol or design that identifies and differentiates a product from other products. Product branding is very easy noticeable when you walk through a supermarket filled with different products as most products are branded with a unique colour, design and logo.
- Personal Branding:
This type of branding is very common among politicians, athletes and celebrities. Personal branding makes it possible for famous people to reflect a good image of themselves to the public. Politicians for instance use personal branding to create a good impression and convince voters that they are right for an office.
- Corporate Branding:
This type of branding is used by businesses interested in creating and maintaining a good reputation. Corporate branding thus cuts across an organisation’s services, products, employees, corporate culture as well as corporate social responsibility. Every activity carried out by an organisation has a positive or negative effect on its reputation A wrong decision can in fact have an adverse effect on the corporate brand.
- Geographical Branding:
This type of branding is used for specific services and products that are peculiar to a particular region. Geographical branding is commonly used in the tourism industry. Various countries and regions try to brand things that make them different from other areas. Landscape, cuisine, tourist centres within a popular region are usually advertised and eventually become associated with the region.
- Retail Branding:
Retail branding is mostly used by industry giants to increase the interest of consumers and make product sales outpace the competition. A lot of money is spent to develop unique brand images that convince consumers to select their brand instead of others. Retail branding however requires a lot of planning. The right strategy needs to be adopted to ensure its success.
Co-branding is a type of branding that associates the brands of two or more companies with a specific product or service. It can also be described as marketing partnership between two or more brands such that the success of one brand rubs off on the other. Co-branding is effective in building business, increasing awareness and breaking into new markets.
Besides the aforementioned, there are other numerous types of branding that businesses can take advantage of. The most important thing is to ensure that your approach to branding suits your business objectives.