There are different categories of brands that exist in the market that comprise of premium brands, corporate brands, family brands, Co-brands. In order to differentiate themselves from their competitors, retailers have been utilized the concept of branding to brand themselves.
The retail stores can build strong bands by identifying the personality which best suits the target market and building the brand around the personality. To be successful at building a brand, the retailers need to define their target markets and identify what the customers expect of them. The retailers can then seek to build the brand such that the rand fulfils the expectations of the customers. A strategy that can be used by the multi-brand retailers to successfully brand themselves pertains to combine the emotional and the functional relationships to arrive at benefits for the customers and the business. This approach gives the multi-brand retailers a customized identity and personality. Another strategy that is useful for retailers for successful brand building is to put the customers and the brand in close proximity. The marketing strategies for successful branding and positioning require management support. The retailers need to highlight the importance of a management focus on the marketing strategy.
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