Product branding vs corporate branding
Branding is an idea or image a product, service or company creates with a combination of factors like name, logo, slogan or design. However, in reality it is much more than that. It is the amalgamation of a number of elements a company, product or service projects to build a positive relationship with its consumers. A brand is who you essentially are and how you want to be perceived by the people. It gives the customer a glimpse of what to expect from you. In short, branding is the promise given by the business to the customer.
Types of branding
There are essentially two types of branding – product branding and corporate branding. Both these types of branding have their own advantages and disadvantages. They are both important for companies. Depending upon what and how you decide to carry on your branding will determine whether you should go for corporate branding or product branding. While corporate branding emphasizes on building a name for your company as a whole, product branding narrows down its attempts in focusing solely on your product without involving your company’s name. Both types of branding requires all the effort of marketing you can put to make your product or company a household name.
Product branding uses the qualities of products to market themselves. They leverage the quality of the product to create a name for themselves. It is usually used by companies that branch out. The advantage of product branding is that the value of the brand is not affected by company’s image. People do not associate the product with any company. The marketing strategy adopted is aimed at selling the product using the product itself. The product itself is used to evoke emotion in its customers.
Corporate branding, on the other hand, applies to using the name of the company for leveraging brand equity. People usually buy the product because of the trust they have in the company. The disadvantage is that fall in the brand name for any reason will lead to all products under its corporate branding take the beating. However, people usually accept the new products launched easily as it comes under the name of the company branding.
While product branding focuses on the product or service and its customers, corporate branding emphasises on the company as a whole, its philosophies and ethics. Corporate branding puts everyone related to the organization in the spotlight. Hence, people relate every employee to the idea created by the brand. This also means at every step, it becomes the responsibility of the company to live up to the image created by their brand.
Product branding is handled only by marketing department of a company. However, corporate branding needs support from the whole organization. Every single employee is associated with the brand and is responsible for the success of the brand. The work culture, vision and quality of the products combine to play a role in building corporate brand while only the product and its customers are involved in product branding.
Change in perspectives
Product branding can undergo re-branding without losing out on any stakes. Corporate branding, on the other hand, carries the weight of past as well as future as they are essentially the face of an organization.
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