Types of brands
Functional brand
Emphasize the actual functionality and performance of products or services, such as automobiles, electronic products, etc.
Borders failed to compete
with online retailers like
Amazon,
leading
to
bankruptcy and closure of
physical stores
Kodak
Kodak failed to Embrace Digital Photography and was slow to adapt to changes in the industry, leading to bankruptcy and reconstruction
Symbolic brand
Emphasize the symbolic meaning and cultural value of products or services, such as luxury goods, fashion brands, etc.
Experiential brand
emphasizes the user experience and emotional value of products or services, such as tourism, hotels, etc.
Explore new product categories or market segments that are consistent with the brand's positioning and values