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What are the four types of Brand building strategies?
Brand building is one of the significant pillars of marketing and business development. Brand building by the reputed branding companies is the process of creating and enhancing the perception of the brand in the minds of the target audience.
The process involves well-planned branding building activities and efforts that are aimed at establishing positive and unique identity for the brand making it memorable, valued and recognized by the end users.
The main aim of brand building is to exude loyalty, credible image and trust among the customers, paving way for success and longevity of the brand.
Here are four types of branding building strategies-
- Brand differentiation strategy: The professional brand building companies in India focus on creating an authentic and unique identity of the brand that sets a company apart from its competitors. This process involves showcasing the specific features, qualities, values that make the brand unique and more appealing to the target audience. The experts base this strategy on product attributes, customer service, cutting-edge innovation or other parameters that give the brand a leading edge and make them stand out in the competition.
- Brand extension strategy: This involves leveraging an existing brand to introduce new products or explore new markets. Using this strategy the branding experts capitalize on positive associations consumers have with the established brands and plan to promote and sell new products or enter new markets. With the help of this strategy one can enhance brand loyalty and reach a broader customer base.
- Co-Branding strategy: Co-branding is collaboration between two or more brands to create joint product or service. Here companies associate with the other brands and aim to benefit from shared strengths, create a USP, and expand their customer base. With the help of this brand building strategy, the experts enhance credibility and built trust by aligning with reputed and complementary brands. For instance in 2016, Apple and Nike collaborated to create co-branded smart watch. The collaboration combined the expertise of the Apple in technology and design with reputation of Nike in athletic footwear and apparel domain. The product was tailored for runners and fitness savvy individual.
- Emotional branding strategy: In this branding building strategy, the dedicated brand building companies in India focus on crafting an emotional connection between brand and its target audience. Using this strategy the experts aim to boost specific emotions, values, or customer sentiments. Emotional branding involves story-telling, creating memorable experiences and relating the brand with positive feelings. Based on the shared values and emotions, the branding experts work to build long-lasting relationship with their target audience.
All the above brand building strategies have own benefits and the effectiveness of these strategies depend on specific goals, target customers and industry dynamics. Brand building companies blend elements of different strategies to create a customized approach to the brand building process. The main aim is to establish robust and recognizable brand presence by reinforcing brand values and messages and identity across all the interactions with the customers.
Also Read:- How to measure brand building success?
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