Question

what are different brand name strategies

Answer 1

1) Crowdsourcing - Under this strategy, outsourcing of brands is done before the public to create brand and which provides the customers an opportunity to get involved in the process of naming and consequently leads to personal interest in a product.

2) "No-brand" branding - As per this strategy, no branding is done, thus making products simple and generic in design. This approach can result in higher volumes because sometimes, no branding is the most advertising.

3) Individual branding - As per this strategy, individual products are given a unique identity which is independent of the parent company. This makes the products easily recognizable in the market.

4) Name Brand recognition - Under this strategy, a company uses its well-established name to extend to its products like with the help of logo, slogan,etc. For example - Coca-Cola, Apple.

5) Brand extension - It happens when one of the leading brands enters into a new market like a cosmetic manufacturing company entering into clothing line of business.