There are many branding strategies that can be applied for the company. Some of these involve improving or enhancing the brand value and others involves working with selling the brand to the consumer (Bühler, & Halbheer, 2011). In the modern globalized world the markets are inundated with a wide array of products the companies need to continuously come up with innovative marketing and stick true to their branding in order to thrive. There is an imperative need to create a niche in the market segment for products and branding aids in this process. Branding is a fundamental tool of marketing. It is only through branding that the consumer related to the product (McDonald & Sharp, 2003).
- Improving Customer Relationship Management: Customer Relationship Management is a process in which the customers interact with the companies. With the growing technology the dynamics of the communication tools have changed (Buttle, 2004). It is imperative the companies reinvent themselves every few years or according to the trends of the people. It is important that the companies not limit themselves to mere sales and promotion of the product (Brown et al, 1996).
- Improving brand recognition: Optimistic perception and positive anticipation of the brand is vital for sustenance. The companies must endeavor to involve themselves in activities that promote the brand value. The consumer must be able to relate to the product and take pride in the success of the product (Berry, 1995). In repeated purchases, this can happen only when there is increased brand recognition created through brand awareness. (Hoyer and Brown, 1990).