In simple words – Branding refers to the marketing tactics that assist to make the product, name, logo, and design different from the rest. In real-time, every second individual wants to be an entrepreneur or desires to become self-employed. So if you are passionate to bring a change in the world, then everything gets started from an idea. An idea that has the potential to make human tasks effortless and could avoid time consumption. Don’t be a copycat, put your hands in this furnace if you are ready to face it mentally and physically.
Now let’s come towards the main topic – types of branding and their pros and cons, keep on reading because – before joining the battle, must be aware of the potential of the opponent.
Take a look at the type of branding and also learn which one is better than the rest other branding in the market
- Personal Branding –
In personal branding, the term here “personal” refers to an individual, representing themselves in front of “word of mouth”. Here owner allows the audience to let to know more about him personally and professionally. People who are willing to express their opinions, thoughts, knowledge, or anything are most welcome here.
Create an account, open the video or reel, make 15-60 seconds of valuable content and share it on social media. This shit must be real, authentic, and appealing for the viewers to see and get to understand.
Like the GARYVEE, he is a legend of the personal brand and always suggests the best tips for personal branding. Today he is an entrepreneur, personal brand owner, and a great marketer. Renowned entrepreneurs take the advice and follow the tips to build a successful business space online.
As per the stats, this branding is going to be the most trending branding in the coming years.
Cons would be –
- If you are a shy kind of person then this branding is not meant for you.
- Consistency is required if you have once started
- No introverts are allowed
- Could be not affordable
- Product branding –
In this branding, the major centered point is the product, and the whole strategy is based on making that product unique and recognizable. From the color, quality, and packaging of the product – everything must be up to the mark. If everything goes well, then the brand gets better recognition, sales, and profits among the audience. For example – today McDonald’s doesn’t need a promotion to bring conversions, it has maintained brand awareness and popularity. This brand has become the first choice of the audience and its brand logo compels the audience to get into the store. At a present time, there are millions of brand outlets all across the globe and a large audience behind them.
- Negative feedback could spoil the brand image.
- It would be hard to become an apple of the eye of the audience.
- Corporate branding –
In corporate branding, the whole strategy hustle around the business values and vision or mission of the business. From all over the world, Nike shoes are the most preferred brand for people who are indulged in sports or want to be. The reason is that the brand statement and the values are strategically focused on a particular group of people who are in the sports industry.
- A corporate brand couldn’t collaborate with another brand otherwise it could confuse the audience.
- One negative feedback can dilute the image
Service branding –
Service branding refers to the branding which offers a particular service and allows the audience to leverage their services. Suppose a brand is specialized in particular services and assures the best class services as no one else provides in the whole market. If branding is based on services then this is crucial to make it affordable, quality-based, and highly efficient than other opponents in the market.
- Pressure to become the best than others
- Sometimes too expensive
- Consistency and building authority is required
Wrapping Up –
If you are an entrepreneur then it is crucial to be aware of the branding and its types because it may be required in the future for rebranding. Above following are the pros and cons of personal branding including their types. If you want to know more about personal branding and related terms branding strategy in marketing then this platform would help you to aware of each and everything.