Corporate branding strategies promote a company’s products or services over others. Types include product, product line, product assortment, and overall corporate branding, with flexibility to apply more than one. The preferred method is promoting the company itself, creating a higher profile for the business.
A corporate branding strategy is a process that companies use to make consumers more aware of their products. In most cases, the strategy has a design that will promote one company’s products or services over the products of other companies. Types of branding strategies include product, product line, product assortment, and overall corporate branding. A company usually has some flexibility when selecting a branding strategy. In some cases, more than one strategy can be applied, depending on the size of the company and the scope of products in the market.
Product branding strategy typically places more emphasis on a single product than the entire company. This process usually starts with a product that has a special name and specific use for consumption. Essentially, this corporate branding strategy seeks to assign special value to the product’s identity or positioning. One downside is that the company can lose awareness of the company’s name compared to its products, so consumers know the product but not the business.
A slightly different strategy is product line branding. Companies can have multiple products within a single product line, with each item having a slightly different attribute. This strategy is to promote all products instead of a single product. A product line branding strategy also allows a company to achieve economies of scale in terms of advertising. Money spent on this branding strategy increases several products in terms of overall consumer awareness.
The product range brand is similar to the product line brand, but has specific differences. Where a product line corporate brand strategy is more vertical in nature, the brand product line is more horizontal – instead of promoting different products under the same brand, the products are more similar. For example, an appliance manufacturer might produce several types of washing machines. Although the washing machines differ somewhat in features and names, branding the product line allows the company to successfully market each one. Again, economies of scale come into play with this branding method.
The final corporate branding strategy involves promoting the company itself above its products. In many ways this is the preferred method because it puts the company name first rather than the actual product name. Consumers become more aware of the company that builds, markets or repairs certain types of products, creating a higher profile for the business. This branding strategy is most common in service sectors. Businesses in the service sector often don’t sell a product that consumers can see or touch, making the business name more important.
Asset Smart.
Protect your devices with Threat Protection by NordVPN
