Have you ever come across marketing campaigns for your favorite product? You may have also read the term ‘Product Branding.’ We have debunked the mystery of what product branding is and why product branding strategies are made.
What is Product Branding?
Product branding is defined as the strategy or a business campaign targeted toward a specific product for its unique identification. It includes everything from its design, materials, symbol, name, packaging, and message to create a unique and recognizable product identity within its competitive market.
It is scientifically proven that people purchase things based entirely on their emotions. Product branding manipulates the campaigns and marketing strategies to connect with potential customers and funnel sales emotionally.
If you look at the product branding definition, it is not always about running a highly invested campaign. It is about designing a recognizable logo, choosing a trustworthy name, or picking the right packaging for the product.
For example, Apple products are instantly recognizable and market competition due to the iconic apple logo and sleek packaging. The purpose is to appeal to the target audience, be it from any segment of society. Simply put, product branding aims to build the product’s reputation by focusing on its distinctive qualities using tailored branding.
Does Product Branding Give Personality to Your Product?
Whenever you go to a retail store to buy a product, the retailer will try to sell you the brand name by telling you about the brand name, packaging, qualities, and consumer and market feedback.
Product personality is the product’s value in the consumer’s eye. Product authenticity and trust are the key factors for creating its personality among consumers. It all comes from how tactfully you do the product branding. It intrigues the customers to buy and try the product, eventually becoming part of their monthly buying list.
More importantly, a favorite product among both old and new customers shows that they have adopted and accepted its unique personality and feel safe using it.
What is The Difference between Product and Corporate Branding?
A parent company’s brand has multiple products, each with its story, value, identity, and audience. Corporate branding reflects the values and branches of the entire company, including all the products and services it sells. A company impacts the consumers as a whole, whereas all its products have individual values and identities for the consumers.
Product branding defines business inclusivity and brings the commodity under the spotlight rather than the entire brand umbrella. Product branding is when the product is marketed in front of the public, focusing on its name, logo, packaging, and identity, giving it more value than the parent company. This takes the spotlight away from the parent company and towards one of its Products. The prime example of it is Lays Potato Chips, and the parent company is PepsiCo. However, no one ever says they want to buy Pepsi Chips because Lays has become a recognizable product.
Is A Strong Product Brand Worth The Investment?
Absolutely! Product branding is worth the investment. Why? Investing in your product branding will increase sales and make it distinctive. Investing in product branding and strategies to funnel sales will narrow the market to those genuinely interested in buying your product. It would be best not to question yourself about investing in product branding. Instead, ask the right question: how much should one invest in it?
What are the Advantages of Product Branding?
Investing in product branding is very important, and that can be seen through the sale stats of the global mega-companies, i.e., Apple, Starbucks, and Coca-Cola. Here, we have discussed some pros of getting your product the right branding.
1. Recognizable product: with product branding, your product gets recognized by customers instantly. Customers feel confident in buying it. For example, people prefer buying Hershey’s chocolate over any other unknown brand.
2. Brand Awareness: product branding creates awareness about the brand and elevates its publicity to a new level. For example, Facebook started as the only socializing app. Now it has taken over WhatsApp and Instagram too.
3. Easy Decision: product branding makes the purchasing decision for customers easier. Customers face confusion due to the massive variety of products, but your product can stand out and become the first choice with product branding.
4. Appeals to Target Market: product branding appeals wider target market with different needs.
5. Easier Brand Advocacy: take AirPods as an example. Their name is easier to remember rather than any ordinary wireless earphones whose name you cannot remember or recommend. Hence, product branding increases market growth and brand advocacy.
6. Value Proposition: product branding helps the product stand out on the shelves of partner supermarkets. For example, when looking for toothpaste, most are compelled to buy Colgate due to its unique identity and the trust among buyers.
How can you Implement Product Branding in Your Business?
Being a business owner, you must keep the following things in mind while doing product branding. These core values will strengthen the product based on its functionality and benefits.
1. Purpose of The Product: Try to understand your product’s purpose before branding. Think from the perspective of customers and their needs. Check for similar products available in the market. Unless you try and understand what your product is supposed to cater to and to whom, you will not be able to execute product branding to create a strong identity.
2. Target Audience: after understanding your product deeply, you must understand and study the target audience. Do research, and read stats about favorite and famous products and why people choose them. Please read the feedback and opinion of people about their favorite products. Research the brand strategies of those products before moving to the next step.
3. Brand Identity: after being clear about your product and its target audience, the next step is to create a brand strategy. Think about a brand name that resonates with your product. Design a recognizable logo. Choose an impactful color scheme and product packaging. Lastly, execute the product branding campaign.
Conclusion
Don’t take product branding lightly. After reading this article, we expect you will know better about creating a successful branding strategy in its target market and submarket. However, creating a product branding strategy and initiating a campaign takes time, coordination, strategic content, and consistency. One cannot do all this alone because it minimizes efficiency. Arturo Digital is here to provide you with help and support with the full potential of brand management. We are here for your help, so get in touch with us to avail of our services and jump into action with your competitive market product.
Also Read: Different Types of Brands and The Role of Branding
