Branding is essential to increase the value of the organization and to catch the eyes of new consumers. It’s a subset of marketing that helps businesses to make their unique identity by designing logos, product packaging, creating custom events, and much more.
If you are planning to establish business or currently running any organization, then you must consult a brand design Agency in Hyderabad to attract the ideal customers and clients. The ideal brand agents help you to know your target audience, build your mission, and make the right branding plan for you by analyzing your competitors.
You can brand everything, whether it’s a semi govt. The organization, govt organization, person, event, product and etc.
Here are 7 major types of branding -:
- Product Branding
- Corporate Branding
- Service Branding
- Personal Branding
- Cultural Branding
- Retail Branding
- Geographic Branding
Many people are confused about Product branding and Corporate branding, both are very popular and used to increase the profit of the companies. In this article, we will discuss the key differences between these two and their advantages.
Key Differences Between Product Branding and Corporate Branding -:
- Corporate branding is a wide approach and focuses on a company’s overall message, whereas Product branding is related to narrow messaging, meaning it is limited to the specific product.
Values, beliefs, goals, etc. are the key components of corporate branding and this technique is concerned with employees and organizational behavior. Whereas the product itself is the main component of product branding.
- Corporate branding remains stable over a long period and becomes familiar to stakeholders and consumers. But the duration of product branding is not too long, it needs to be changed whenever a new product develops.
- The main target of corporate branding is consumers, stakeholders, suppliers, partners, and shareholders. But product branding is meant to captivate the attention of customers only.
- Corporate branding is done in multiple sectors, as big brands consist of a variety of products and services.
But promoting a specific product is quite different, in this, you need to pitch the specific sector. Therefore it is key to determine the marketplace where you want to make a particular popular
- You can implement corporate branding successfully without product branding, but product branding cannot be done efficiently if you fail to communicate your company’s brand values and voice.
You can build meaningful brands for your customers and employees by taking the help of brand design agencies in Hyderabad. In addition to the traditional style of branding, they will also use digital branding techniques to engage your existing customers and to capture the attention of new potential consumers.
Let us discuss the advantages of Product Branding and Corporate Branding
Advantages Of Product Branding-:
- It increases the return on investment
- Makes easy to launch a new product in the market
- Helps to increase the customer base
- Create barriers for new competitors
- Helps to build customer loyalty
Advantages of Corporate Branding -:
- It facilitates the communication between the organization and the stakeholders, the shareholders, the customers.
- It allows big brands to deploy a single branding strategy for its multiple products and services.
- It saves money, as organizations do not require to implement a new branding strategy for the launch of every new product.
- Helps to familiarize the potential customers with the upcoming product
5 Easy Steps To Build Strong Brand
- First, you need to discover the purpose behind your brand through a brand audit
- Then study and research for your competitors
- Determine the targeted audience and marketplace
- Compile the unique mission statement for your brand
- Implement branding strategies to build your brand identity in the targeted audience and market
The Bottom Line -:
Whether its a corporate branding or product branding, strong branding makes your organization recognizable and grows consumer’s trust in your product and services. Branding helps to gain the loyalty of consumers and increase the profitability of the organization. Contact today with a great branding agency near you to gain a competitive edge in the market.