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6 Types of Branding Every Entrepreneur Should Know

Shalom Solomon

The meaning of branding has evolved over the years from just burning marks on cattle, to identifying products and companies, now it has grown to become the heart and core of passionate business entreprises. Branding or rather proper branding is not a common practice among the numerous small businesses in Nigeria.
This probably is due to the cost of creating and developing a brand in the past and also misinformation.

Business Owners erroneously assume that branding begins and ends with a business name and logo. Well, it doesn't. 
The business name and logo are only a part of a component of branding.
There are vast resources on the internet these days that have made the process of branding less complex and relatively inexpensive compared to the late 19th century and early 2000s. 
Though experts would argue that proper branding must one way or the other require capital investment. 

The good news is that if done right, branding always brings good Return on Investment. 
Doing branding properly boils down to the branding strategy and type of branding adopted. The entrepreneur has to decide what type of branding would suit the aims and vision of the business, the model of business and the business's long and short term goals.
To do this, we'll have to know the different types of branding right?
Come on then, let's get on to it.

Photo Credit: Dreamstime

Types of Branding

1. Product Branding
This is the most common type of branding, where businesses create and develop a brand based on the products they produce. Very good examples of product brand are: CocaCola, Pepsi, etc.
Product branding seeks to promote a product or groups of products. It therefore offers the business the opportunity to target a specific niche of customers with slogans, images, logos or graphics that appeal to them.

2. Corporate Branding

Brand reputation comes to play in this type of branding. Here, the business itself is the brand. Corporate Branding creates awareness on the values on the business and how the company integrates these values into the creation of it's products. The automobile industry most of the time practiced this type of branding.

3. Service Branding

For service branding, consistency in business' operation and services offered is important. Businesses can create a brand based on the unique services they offer anywhere. Services offered became vital with the rise of the internet which increased the platforms on which businesses can relate with clients. This singular favor has upped the relevance of excellent customer service and businesses with great service can leverage on it for branding.

4. Personal Branding

Personal branding is mostly practiced by politicians, celebrities and famous people.for personal branding, individuals develop and create awareness about themselves in a select niche. A great example of Successful personal branding is Elon Musk. He has grown to become an Influencer on social media. For instance, the sales for Bitcoin increased after Elon Musk tweeted about it. Another common example is Micheal Jordan who not only made himself into a brand, he also monetized the brand. He started his own clothing line and collaborated with Nike to develop his own shoe line.

5. Geographic Branding

The location of some businesses can boost the relevance or value of their products. For instance, some yorubas tend to prefer Ijebu garri over other types. It is therefore natural for a business owner selling garri to also include that his/her product is from Ijebu. People who sell turkey clothes and shoes also practice this type of branding. Geographic Branding involves building a brand for a business using the location of the company.

6. Retail Branding

This form of branding is especially for businesses that deal in retail. They create their brand with easily recognizable and identifiable names, logos and images on their products in order to differentiate between their products and that of others on the shelf. This involves also using catchy phrases and unique packaging to set your business apart from others. A good example is infinix. Their retail shops for their mobile phones are created in the company's colors with other important brand identities. Retail branding is important because it deals with the physical base of operations of any business. Irrespective of the fact that a majority of business transactions might be carried out online, your retail store has to reflect and hold the core values of your business brand.

Conclusion

The process of branding for businesses is  continuous and a bit stressful. But, like I've always stated, it is equally rewarding when done properly. The type of branding a business adopts can also change with time, depending on the growth of the business itself and changes in the society.
This is why the branding process should be continuous. If branding isn't working for your business, then it might be that you are employing the wrong type of branding. Sit back study your company's structure then pick a branding style that supports the goals and attributes of your business.
Good luck.

Comments

Jhon Doe

- 20 October, 2018

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Jhon Doe

- 20 October, 2018

Lorem ipsum dolor sit, amet consectetur adipisicing elit. Accusamus numquam assumenda hic aliquam vero sequi velit molestias doloremque molestiae dicta?

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