What are 4 four branding strategies?

The Fab 4 of brand development strategy Product/range extension. This is when a brand introduces a new product similar to one it offers already, targeting an existing market. ... Brand extension. ... Co-branding. ... Brand licencing.

blackdog.agency - 4 captivating brand development strategies - blackdog.agency

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Brand extension

This is when a business seeks to broaden its reach by launching products or services in a new market under an existing brand name. For instance, Disneyland is a highly successful extension of the Disney brand. This strategy also leverages trust and brand equity built over time, enticing consumers to choose the brand in a new market in which it has no previous history or experience. Often, customers need make only a small leap of faith from the brand’s core sector to its new battleground. For example, you might be more inclined to use an Apple credit card if you already use Apple Pay, but choosing Royal Mail as your broadband supplier might be too much of a stretch.

Multi-brand

The flipside of product extension is the multi-branding strategy - when a business launches a new brand name in an existing category in apparent competition with itself. This strategy works by squeezing competitors for market share, e.g. PepsiCo has cornered the porridge oats market with their Quaker and Scott’s brands. This strategy is more prevalent amongst larger organisations, especially holding companies and portfolio brands, and is often fast-tracked through acquisition. However, multi-branding can be effective on a smaller scale. For instance, we’ve worked with Leeds University to re-brand all of their cafes and bars, each with a distinctive positioning and offer, but all owned by the same parent organisation.

New brand

Our final pillar of brand development is the launch of a completely new brand where everything is different and new. New logo, new identity, new guidelines, new product offering, new positioning. Given that 80% of new product launches fail* this is a high-risk strategy, but it can reap the greatest rewards. When you create a completely new brand and product, you have the opportunity to capture (and possibly create) a completely new market, as Starbucks did when it created the ready-to-drink chilled coffee category.

* Harvard Business School

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