Brand marketing strategy greatly captures a good percentage of customers in the competitive markets. Your business and products are easily identified by customers on the market against your competitor’s products.
In the early periods,
there was nothing like brand marketing strategy. During those days, products were sold without branding. Consumers did not bother identifying the products name or symbol.
However, the present markets are full of smart marketers who love to tell compelling stories about their products and services. These marketers know that no sales are realized without names and symbols that identify their products and businesses. The name and symbol creates royalty of consumers.
So, what is a branding? Well…it’s a name, a term, a symbol or a design that identifies your products. Brand marketing strategy differentiates your products and services from similar products and services in the market.
Fourteen Qualities of a Good Brand
1. The name or the symbol should suggest something about the product or service.
2. The name should be simple, short, easy to pronounce.
3. It should be easy to advertise and identify.
4. It should be of a permanent nature.
5. It should be clear and attractive.
6. It should be capable of being registered and protected legally.
7. It should be distinctive.
8. It must have a pleasing sound to the ear when pronounced.
9. It should be economical to produce.
10. It must be an original one.
11. It should not be the one that is pronounced in several ways.
12. It should not be an offensive one.
13. It should create a good image.
14. It should not be outdated.
Five Different Types of Brands
1. Individual: It is the one that a business adopts distinctively for its different products.
2. Family: It is where a family name is limited to one line of products. The business adopts one name to use in its variety of products.
3. Company: It is where the company uses its name to name its variety of products.
4. Combination Device: It is where products have individual names and company’s symbol.
5. Private or Middlemen’s: They are the ones that are owned and controlled by middlemen rather than the manufacturers. The manufacture introduces his products through distributor’s name.
Four Kinds of Brand Names
A. Descriptive names: This includes all the words that describe the products that are being sold.
B. Suggestive Name: These are the names that suggest something about the function of the products that is being sold on the market.
C. Arbitrary Name: These are the names that neither relates to the products nor to the producers producing them.
D. Coined Name: These are the ones that give importance regarding the identity of the producer.
Now you have known the brand marketing strategy. Go ahead and implement it in your business.
