Well the talks about branding is hyped and has become a routine and to make a difference lots of entrepreneurs put in lot more from their side and ultimately rise in the economy heading with a distinct identity in this competitive market. Its sometimes luck or most of the times it is the approach you plan in to implement your branding thoughts and ideas.
Alternatively, in a market that is fragmented amongst a number of brands a supplier can choose deliberately to launch totally new brands in apparent competition with its own existing strong brand simply to soak up some of the share of the market which will in any case go to minor brands.
In its most extreme manifestation, a supplier pioneering a new market which it believes will be particularly attractive may choose immediately to launch a second brand in competition with its first, in order to pre-empt others entering the market.
Individual brand names naturally allow greater flexibility by permitting a variety of different products, of differing quality, to be sold without confusing the consumer's perception of what business the company is in or diluting higher quality products.
Individual Product Branding
Under this branding approach new products are assigned new names with no obvious connection to existing brands offered by the company. Under individual product branding the marketing organization must work hard to establish the brand in the market since it cannot ride the coattails of previously introduced brands.
Family Branding
Under this branding approach new products are placed under the umbrella of an existing brand. This brand image may create customer confusion and hinder the company if they attempt to introduce higher-end, higher priced products using the same brand name. Additionally, with family branding any negative publicity that may occur for one product within a brand could spread to all other products that share the same name.
Co-Branding
This approach takes the idea of individual and family branding a step further. With co-branding a marketer seeks to partner with another firm, which has an established brand, in hopes synergy of two brands on a product is even more powerful than a single brand. Private or Store Branding – Some suppliers are in the business of producing products for other companies including placing another company’s brand name on the product. This is most often seen in the retail industry where stores or online sellers contract with suppliers to manufacture the retailer’s own branded products. In some cases the supplier not only produces product for the retailer’s brand but also markets their own brand so that store shelves will contain both brands.
No-Name or Generic Branding
Certain suppliers supply products that are intentionally “brandless.” These products are mostly basic commodity-type products that consumer or business customers purchase as low price alternatives to branded products. Basic household products such as paper products, over-the-counter medicines such as ibuprofen, and even dog food are available in a generic form.
Brand Licensing
Under brand licensing a contractual arrangement is created in which a company owning a brand name allows others to produce and supply products carrying the brand name.
