Not all brands are created equal

Brandis an interesting word. Sure, there is the literal definition—a good or type of product manufactured by a company under and known by a specific name. For most people, this single definition is enough. But, what if I told you there are more than just one type of brand? Do you know what area your brand falls into?

If you know what type of brand you have, you can help your brand grow, as you go through and establish your brand strategy. There are a few types of brands that you might fall into; let’s go through some of the top ones.

Product Brand: Commodity or goods that have been given a brand name that aids in awareness and helps capture a percentage of the marketplace. Product brands are common in supermarkets or retail stores. Product brands tend to be tangible or useable in some manner such as shoes, computers, or cosmetics.

Personal Brand: One of the least known brand types, personal brands apply to everyone. Sometimes referred to as individual brand, this is a brand built around one specific person. If you are recognizable by your face, name, or you come to mind when someone thinks of a specific thing, then you have a personal brand.

Personality Brand:A personal brand that has gone mainstream, it is known and identified with certain markets and offerings. Think of Tony Robbins, Martha Stewart, Oprah, Bono, or Chip and Joanna Gaines. When you think of these individuals, you feel you know them even though you may have never met them.

Service Brand:A brand that people are willing to purchase typically without a tangible offering, such as professional services or news services. These brands rely heavily on strong positive brand image, and maintaining a strong relationship built on trust.

Corporate Brand: Corporate brands have a distinct brand for themselves. Often these brands might have a product or service that they brand, as well. Proctor and Gamble (P&G) is an example of a corporate brand with many product brands such as Braun, Old Spice, and Tide.

As your brand continues to grow you might find that your brand type needs to evolve. Knowing and understanding the difference between brand types can ease your transition. Sometimes these brand type transitions can be a natural progression, such as moving from a personal brand to a personality brand. Others can have a trickier path, like moving from product brand to a corporate brand.

Are you comfortable in your brand type? What struggles are you facing in maintaining your brand type and connecting with your audience?