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terapodstech · 2 years ago

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7 types of branding to knowing. | Terapods

Different kinds of branding includes:

Product Branding

Corporate Branding

Personal Branding

Employer Branding

Digital Branding

Co-Branding

Shadow Branding

What is branding?

Branding refers to a step by step process which synchronously aligns your company to create a powerful aura around it.

In simple terms, it is a process which needs to be in place to set you apart from your competitors for your specific product and services.

It is a never stopping Wheel. Why? Because your consumers are changing and adapting to new trends and technology.

It is an important methodology which helps a small, mid-size and large business to outsmart their competitors strategically.

Hence the business owners must understand the importance of branding.

In terms of marketing, branding is a marketing practice in which a company creates a name, symbol or design that is used to identify the company. This helps to differentiate a product and distinguish it from other products and services. Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice. Your brand is built to be a true representation of who you are as a business, and how you wish to be perceived.

What are the different types of branding?

Before we know what are different kinds of branding are. Do note branding is not just done for a product, service or company. It can be done for individuals, nations or lifestyles of a particular kind.

1. Product Branding:

This is basically for a company that is focused on products or services. This type of B2C branding is mostly for the FMCG industry or application-based companies. The main intent is based on common consumer needs. For example, retail branding can go under this umbrella focussing on geographical branding as well.

2. Corporate Branding:

This type of branding is used by organizations that are providing a solution to a problem to a particular set of consumers or niches. A corporate brand that has a rich heritage, an asset to showcase, has solid core values.

3. Personal Branding:

We all have a unique style. And when this style is being promoted to a larger audience it becomes personal branding. Personal branding is developing an individual aura as in how other people will perceive you.

celebrity branding is a good example of personal branding or cultural branding.

4. Employer Branding:

Employees are the company's face. For example, the receptionist is the first face with which your stakeholders interact. He/she has to know about the brand in and out. So that he/she oozes out the company culture confidently. Or your customer service. The kind of service provided by them determines the company's brand credibility. Hence employer branding is important.

5. Digital Branding:

Branding of individual, corporate or employees is no more in the phase where only traditional marketing or branding works at its full potential. Digital or online branding has evolved and has become more and more relevant, unlike offline branding. Hence digital branding with time has become important. It is getting your company's brand online.

6. Co-Branding:

When two company brand exists together it is called co-branding. For example Nike + Apple = Nike+

This type of branding extends the reach instantly, establishes credibility and doubles your marketing budget. Hence important to choose your co-brand wisely otherwise it will backfire and plummet your brand value.

7. Shadow Branding:

Usually, a brand endorses another brand. But not connected visually. For example, BMW is a shadow endorser of MINI Cooper.

How to choose a branding strategy?

Now that we know some of the forms of branding. Now the question is how to determine which type of branding suits the company or what branding focuses. The brand architecture helps in determining the best possible way. Broadly it is divided into three categories monolithic, house of brands and branded house which can be used in identifying what kind of marketing campaigns to be fostered.

Choosing which brand architecture to adopt, you have to identify whether you have a diversified portfolio or a single portfolio. If you have a single focused product or service with a single brand name, then go for monolithic brand architecture. Or if you have diversified services to offer with different brand names then you follow house of brands architecture. And finally, if you have different products with the same brand name then you have branded house. This architecture will help to develop your marketing strategy for your target audience in the end.

Follow these steps to find the best strategic approach that fits your business.

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terapodstech · 2 years ago

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How to Think of a Brand Name: A Step-by-Step Guide.

A trade name or a brand name is a name that is applied by an organization or a manufacturer to a specific service or product. Brand names are powerful marketing tools to foster loyalty and establish consumer awareness among potential customers. Find a perfect name to foster brand loyalty and establish a strong brand strategy. Below is a step-by-step methodology to develop an easy to remember names.

Two primary purposes of a brand name are verification (authenticating the genuineness of a service or product) and identification through the brand story (differentiating a service or product from others). Brand names are capitalised, or bi-capitalised words such as iPod or eBay and can be protected as trademarks.

In this article, we will cover...

Types of Brand Names

Features of Brand Names

Steps to think of a brand name

Tools to create catchy names

Evaluate brand name

Types of Brand Names

It may be the names of people who developed a product or service (Bajaj Auto, Baskin-Robbins, Calvin Klein etc.) or a name that gives consumers the idea of how a product is expected to perform or a product’s/service’s purpose.

A perfect brand name can reinforce its value as the name is the extension of the brand. When you are developing a name for your service, product, or business, there are several alternatives to choose from. When you are developing a name for your service, product, or business, there are several alternatives to choose from to ensure it is a memorable brand. You may:

--> Take a word out of context like Google.

--> Use the inventor’s or founder’s name like Dr Reddy’s Laboratories.

--> Describe an image or experience like Nike.

--> Make up a word like Häagen-Dazs.

--> Describe what you do like Mr Clean.

Do not forget to consider what the name should represent and mean. An appropriate brand name can position you as a true leader and can create a buzz.

To get an idea of how to think of a brand name, one can follow Landor’s brand name taxonomy.

According to Landor, a brand name should be:

Descriptive: Describes function literally; for example, Indian Airlines

Suggestive: Suggestive of a function or benefit, for example, Fair & Lovely

Compounds: Combination of two or more words, for example, Firefox

Classical: Based on Latin, Sanskrit, or Greek, for example, Atlas

Arbitrary: Real words that have no direct connection with the company, for example, Apple

Fanciful: Coined words with no apparent meaning, for example, Pepsi

Besides Landor’s taxonomy, the other popular types of brand names are:

Evocative: They bring to mind the powerful experience or the positioning of the mind; for example, Nike

Invented: They are used for naming a product that is introduced for the first time, for example, Printful.

Lexical: They rely on wordplay. They are a combination of foreign words, spellings, and compound words, for example, Burger King.

Acronym: They are mostly the acronyms of the names of companies that are difficult to pronounce, for example, H&M

Geographical: The name may include the territory or geography in which the brand operates or originated, for example, American Express

Founder: These names are associated with the names of their founders, for example, Ford

Experience: These names give a hint of what one may feel when they use the brand; for example Whizz

A great brand should ideally communicate something to customers. According to branding pro Marty Neuemier, as stated in The Brand Gap, “...The right brand name can be a brand’s most valuable asset, driving differentiation, and speeding acceptance.”

According to a 2010 University of Alberta study, brand names with repetitive structures, i,e, Jelly Belly, Kit Kat, Coca-Cola, elicit a more positive reaction from customers than other brand names.

Features of Brand Names You Must Pay Attention to When Choosing Your Brand Name

If you want your brand names to be easily remembered by target customers, ideally, choose a brand name that is:

Distinctive: It stands out from your competitors by being memorable and unique.

Protectable: You should be able to own it, can trademark it, and get the domain, both in the general consciousness and legally.

Visual: You must be able to communicate and translate it through icons, colours, designs, and logos.

Meaningful: It should convey a positive emotional connection, communicate your brand’s essence, and conjure an image.

Accessible: One should be able to easily Google it, spell it, interpret it, or say it.

Future-proof: It can be adapted for different products and brand extensions. It should be relevant in the long run and can grow with your company.

Steps to Think of a Brand Name

1) Make a list of words to describe what you are trying to convey

Whether they will prove to be good brand names, making a list of words will ensure that you start thinking creatively. This is an easy starting point.

Research what names are already out there in the market to avoid legal hassle later on.

2) Stop thinking about complicated names

Avoid confusing, long-winded, messy, and forgettable names. A good brand name should be simple and easy to remember. Avoid overthinking and overdoing.

Do not be afraid to think out of the box.

Also, never drop a name or an idea considering it weird. Consider bad ideas as well to inspire yourself.

3) Seek help from your peers

Rather than asking everybody under the sun, get together with a selected group of people to brainstorm ideas. Those chosen people maybe your friends, family, or peers.

Thesaurus.com is of great help in generating potential brand names.

4) Ponder over the selected name for a few days

Sometimes you can come up with a brand in seconds, whereas you may require more time at other times. Avoid being rash. Set a deadline to come up with a name and try to stick to it.

Organise and revise the ideas. Categorise your ideas based on a theme or organise them using word banks.

5) Test your selected names or ideas

Ask family and friends, and survey local shops and shoppers and potential target customers to check which of your brand names they like

Last but not least, always follow your instincts before finalising any brand name. Respect your creative ideas and believe in them.

Believe in your selected brand name the same way you believe in your brand.

Tools to Generate Catchy Names

brand name generator tools that can be put to use to generate catchy brand names ideas are:

· Wordoid

· Namelix

· NameStation

· Bustaname

· Impossibility!

· Domainr

· Domain Hole

· Dot-o-mator

· Oberlo’s business name generator

· Shopify’s business name generator

Evaluate a brand name.

To build a brand and brand image it is important to evaluate a brand name. Getting it right is essential. There are majorly two ways of assessing it.

1. Send a list of brand names to a branding agency and let them evaluate it legally for you. So that you can come down to one name.

2. Use an advanced tool name Cypher8 at a minimum price. The names are evaluated instantly and give you scores which helps you as individual owners and founders evaluate it with your internal team and register it.

Your marketing efforts become easy when you have a strong name; post finding a brand name, and don't forget to create a visual identity and brand guidelines.

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