Brand Auditing Project

MBA 640

26 October 2021

Branding Strategies Discussion

The brand of an organization lays the basis for appropriate marketing. Branding strategy by definition relates to the long term objective to achieve the goals of the organization relating to identification and preference of a brand by consumers. Branding strategy is a way to achieve the marketing goals of a business. The branding strategy is an important component of the overall marketing strategy of a business. The branding strategy specifically depends with the overall goals of an organization and the commitment towards making marketing in terms of resources. Branding strategies include the private labeling strategy, company name branding, individual branding, attitude branding and the brand extension strategy.

The private branding strategy includes the use of the third party to brand and handle marketing for a company. The private branding strategy must communicate the strategic intent of the business. The private branding strategy involves elements such as the mission that gives the intent that the business wishes to achieve through its undertakings, the financial contribution, target customer and the customer acquisition (Cudny, Comunian & Wolaniuk, 2020). Private branding should reflect innovation. Company name branding strategy is the alternative branding strategy. It includes the popularity of the different company branding elements such as the logo, slogans and packaging colors. For individual branding, as a branding strategy, emphasis is on each product. Specifically, each product is given its own brand name.

The other branding strategy is attitude branding. Attitude branding involves the overall attitude of a brand and involves creating an emotional connection between the brand and whoever is buying the product. Another branding strategy, is the brand extension strategy. This ensures success in a new product line. The brand extension strategy diversifies the product but retains brand identity (Cudny, et.al, 2020).

Reference

Cudny, W., Comunian, R., & Wolaniuk, A. (2020). Arts and creativity: A business and branding strategy for Lodz as a neoliberal city. Cities, 100, 102659.