Types of brands differ of course because branding is that one of the essential marketing and advertising tools that helps the product, service, company, or even a person gain widespread recognition, visibility, sales and brand awareness in the market and every type needs a special tool and special strategy.
How to Set a Brand
When you think about building a brand, people have brands too. We each have a name, a face, a style, a way of communicating, different impressions we make on different people, and what they say about us when we’re not in the room.
Likewise, businesses have names, products, logos, colors, fonts, voices, and reputations to manage that makeup who they are and affect how they’re perceived.
You can’t build a brand without being consistent and maintaining that consistency as you extend your brand to every part of your business. But it all starts with establishing what that consistency is going to look like and the feeling you want it to evoke.
This multifaceted approach requires employing many different skills and much effort, and it is essential to understand that there are various types of brands and that they are suitable for different products and services.
Establishing a target audience is the first step towards creating an effective branding strategy, and that is where all these types of brands come into play as each one appeals to a particular customer group or specific segment.
Types of Brands
This involves adding a value of service to the project. It is considered more difficult to develop a service brand other in a product brand because the offerings of service brands are intangible. Once developed, it is very useful to avoid competition since it is very hard to develop and prove the brand in terms of pricing.
A lot of new online brands have been developed like subscription brands wherein people pay money for access to services or products and these are rapidly challenging the salty and the expectations of technology for both service and product brands. For example, the integral and perceived value of products that come with apps. Southwest Airlines is an example of a Service Brand.
One of the types of brands is a personal brand and personal brands are also known as an individual brand, and they are defined as the brand which a person has built around himself to promote his or her career opportunities. Again, social media plays an important role, and it can be even said that it is indispensable, in creating and managing a personal brand. Example: Celebrities or Sportsperson are the best examples of Personal Brands.
Unlike corporate brands, product brands are not marketed as being part of a big label. When individual products are being marketed without mentioning their parent brands, the term “stand-alone” brands is being used. This means that consumers usually don’t know details about the parent brand.
This campaign is based on promoting healthier alternatives to sugary drinks and is an attempt to reinvent the entire corporate brand image and survive in the midst of the changing marketplace, which becomes increasingly health-conscious.
The Coca-Cola Company is a perfect example of corporate brand identity as it markets many different products, or to be precise more than 500 brands under its wing, which means that its marketing strategy revolves around the brand name.
A brand that is owned and managed by the government has called a public brand. At times even, the government is seen as a public brand in the eyes of normal people.
As the name suggests, this is the kind of brand which offers high quality at a higher price. Luxury brands form a niche market for selected customers. It does not engage in reducing the price, but rather, it is more dedicated to providing premium service to bring our customers. Nike shoes and Rolex watches are a perfect example of a luxury brand.
These focus only on constantly improving the product by advanced breakthroughs in technology. Innovation as the primary aim and hence these are unique to the market and it sometimes maybe even the first in the market. Apple is known for its innovation in the market, and Apple products are considered as innovative products.
At the end of discussing types of brands, You need to be able to manage your brand and boost it perfectly. And this will not happen without the right agency to enhance the company, understand different types of brands and increase sales. So that’s what you can find with Muzawed.