Branding is one of the significant term studied and learnt in various colleges and schools across the globe. Branding is barely a marketing term that indicates about some thing very colorful in crowd, For an example if we see all blacks and whites then a red color would be different among those. a second example if see donkeys crossing roads and among them a horse is there in mid or corner then we can say, that is horse, a different animal with power and appealing look. for more vividness if we set a rule in class that monitor of the class would be putting on blue dress and rest candidates would be putting on white so that monitor of class would be considered a brand in that mob of students.
With human branding a person can also become a strong brand personality. likewise a marketing strategy that is cost effective which states that products should be cheap and easy approachable to all in market so that product might not be having specific high qualities but at-least fulfilling fundamental necessities .
With marketing strategy such as differentiated, products are sold and marketed on basis of their specific and recognizable qualities that other goods and commodities might not be having in them and it is virtue or quality that particular product has and makes difference in thousand goods. This kind of brand is highly expensive and very charming to all.
With niche strategy, we are focused on particular strategy which is merely paying attention an specific group of people and this strategy helps in serving small number of people rather than attacking whole masses. such as serving very high class or a particular sect with different hobbies and beliefs.
A mix strategy such as cost effective-differentiated strategy is also in the market which implies that a product should be designed to have afford able cost and high qualities as well and examples include such as Nokia cell phone that are affordable and having high quality.
Like wise humans and youngsters have to think in the same way that what brand they are and which class they are going to serve. A man on shop, Cobbler, mason, a small trader, or a cashier and etc can be cost effective products, easily available in market, very cheap, no high qualities.
A man such as high quality software engineer, CEO of company, A PhD, or etc can be considered differentiated product who possesses high level of skills, has clear vision, objectives, action oriented and practical so would be qualified as differentiated BRAND. Do you think that you fall in this category??
You might be a person serving special sect and group of people such as it happens in niche strategy or it would be great to be cost effective differentiated product but the only drawback in that is having low cost.