Product branding is the development of a unique campaign for each product developed by a brand or manufacturer.
Personal branding is the branding of an individual or person such as politician, celebrities, athletes, etc. It helps reflect the person’s positive image over the internet platform.
Corporate branding is the creation and maintenance of good reputation in order to obtain better sales and retain customers.
What is Brand Management?
Brand management in simple words is defining a brand, followed by planned positioning amidst the targeted audience, and lastly brand delivering with best features in the forefront. It is an art that allows the creation and sustenance of a brand via digital platforms. In short, brand management brings together the efforts that help manage a brand’s tangible & intangible assets. Benefits of Brand Management:
Customer Recognition: Having a rigid brand management strategy in place allows for creation of better customer recognition pattern. Customers tend to pick brands that they are familiar with as opposed to the ones that they randomly came across.
Competitive Edge: A properly placed brand image is what differentiates you as a market leader. A brand recognized and approved by customers gets the benefit of acquiring a particularly competitive edge in the market.
Shared Values: Elevation and recognition built via proper brand management brings in customer loyalty. Customers usually align themselves with the brands that share a common motive or value. This establishes a mutual sense of trust and customer loyalty.
Enhanced Credibility: Having a well-known strong brand enhances the credibility you have before your customers, marketplace, and the industry you work with. Brand management is known to establish a direct and easier connection with the customers.
Premium Rates: Being a brand with better rating and strong brand management strategy allows you to rank higher than your competitors. You can charge premium rates for your products when you have a strong customer base.