Branding is extremely important when it comes to building a good market reputation that distinguishes your brand from the competition. To do that, companies employ a variety of brand strategies or make various branding decisions. Also, if you need help being not an expert in the field of marketing, get assistance from top branding agencies Los Angeles.
When you think of branding, what comes to your mind? Is it flashy business cards, funky product packaging with a distinct logo, or a website that has the functionality of anticipating every move? Well, you are not wrong, these bells and whistles are undoubtedly needed but branding is much more than what meets the eye.
Branding is a marketing concept that distinguishes and adds dimension to each of their products. Brand management is not an easy task when it comes to marketing. The role of branding in marketing has multiple shades and is quite significant. After the product is launched in the market, over a time period, the company sells the brand, not the service or the product.
For better branding, you should consult top branding agencies Los Angeles. Now let’s learn about branding decisions and how they impact marketing. You will also know about the advantages of each branding decision such that you can strategize the one that suits your brand the best.
What is a branding decision?
Branding is a vital decision that nowadays, companies are indulging in due to high market competition. Presently, companies are building brands for each of their products to stay ahead amidst this competition.
Here are the following Los Angeles branding strategies that are integrated by most of the brands.
Branding Decision 1– Individual brand name strategy
This branding strategy is followed by most of the major companies. Here, the company gives each of its products an independent brand name.
For example, the US-based Procter & Gamble is the second-largest FMCG Company in the world. It owns 65 brands portfolio giving each of its products an autonomous brand name, like, Always, Herbal Essence, Gilette, Old Spice, Pantene, Ariel, Pamper, Tampax, Lenor, Ace, Oral-B, Head & Shoulders, etc.
- The most significant benefit of this policy is that the brand itself cannot procure its reputation in one product.
- Any kind of negative impact on one product does not hamper other brand products
Branding Decision 2– Umbrella/ Blanket Family brand strategy
Here, the company’s name is being used in its multiple product categories. For example, the Apple brand owns several items and markets them as Apple products, like, the Apple watch, Mac, iPhone, iPad, etc. Top branding agencies Los Angelesoften suggest using this strategy for a better and bigger picture.
- To create brand recognition, the development expense for the novel product is quite less.
- When the manufacturer brand is already recognized and established, it becomes easy for the parent to sell their new products.
Branding Decision 3– Separate family names for all products strategy
When producing a diversified product range, the companies might choose to give a distinct family identity or name. For example, Sears, Roebuck and Co. is an American chain of department stores that uses the name “Kenmore” for appliances and “Craftsman” for tools.
- Due to distinct family names, different brand names are designated for certain items and products.
- The collapse of a particular brand might not have any impact on others.
Branding Decision 4– Company name combined with an individual product name strategy
This is a sub-branding approach where the parent company is utilized and along with that product names are added to it. For example, Ford Focus and Volkswagen Polo have the family name Ford and Volkswagen with their particular product name Focus and Polo, respectively.
- A brand advantage is employed for the next fresh product because the parent brand has already been presented.
- Less money is used to build a brand.
If you want to go big in the future, you can use the above-mentioned brand strategies. But, if you think that’s the work of experts then you must hire branding companies in Los Angeles for better insight into the branding decisions. This will help you choose the strategy that will best suit your brand.
Top It Marketing Inc. is a branding agency that can help you choose the strategy that will work best for you! To learn more about our approach to branding, visit our official website (https://www.topitmarketing.com/). For consultation, call us at (323)250-3726 or email us at email@example.com.