The concept of branding has evolved enormously over the years. Branding is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice and a memorable impression on consumers. Branding is the perpetual process of identifying, creating, and managing the cumulative assets and actions that shape the perception of a brand in stakeholders’ minds.
1. Why is branding important?
Branding is critical because of the overall impact it makes on your company. It can change how people perceive your brand, drive new business, and increase brand value.
2. How to create a Brand?
- Determine your target audience
- Establish your mission statement
- Define your values, features, and benefits
- Create your visual assets
- Find your brand voice
- Put your branding to work
3. Different types of Branding
• Company Name Branding
Well-known brands leverage the popularity of their company names to improve brand recognition like Coca-Cola.
• Individual Branding
Large companies with a variety of products may give each product its own brand name. For eg- Apple is the parent company but does individual branding to market its different brands such as Mac, iPhone, or iPad.
• Brand Extension Branding
An existing strong brand may decide to extend its success into a new venture with the effective use of a brand extension strategy. The products may be different, but the brand identity stays the same.
• Attitude Branding
This branding strategy brings the business to life by marketing a larger feeling to create an emotional connection between the brand and its customers. Brands such as Nike use it only to sell athletic shoes, but also to promote a healthy lifestyle that aligns with the slogan, “just do it.”
• Private Label Branding
Successful store brands may use private-label branding strategies to compete with larger retailers. For eg- supermarket chains produce cost-effective brand options for specific food items.
4. How do we help you?
Dtroffle focuses on helping companies and products establish a brand. We ensure a personalized experience and use new-age tools, for your new-age customers. We assist you by dealing with the staggering extent of data and change into a compelling advanced business. As a general rule, products have limited life cycles, but brands if managed well last forever. Speak up with branding and if you ever feel lost in the process, remember that support is always at hand.