Family branding is a potent marketing strategy referred to as umbrella branding. Practised by the most prominent brands across major sectors, it is a ploy to boost the marketability and visibility of a newly-introduced product. When a product carries the same iconography as a renowned brand, the brand recall value gets an automatic & substantial boost.
Let’s explore the concept a bit further.
The key idea behind any family or umbrella branding strategy assignment help is to boost the prominence of new market entry using the brand prominence & dominance of a renowned brand. It follows a psychological concept wherein a prominent brand name denotes high quality, reliability, and better outreach among a target customer segment.
Selling multiple related products under a prominent label can elevate the brand equity of the entire product line. Wondering how umbrella or family branding works?
If a brand publishes 5 different product lines, each successful & if the brand enjoys a substantial amount of trust, then any newly introduced publishing line can leverage massive benefits.
Successful implementation of a family branding strategy can help orient an organisation's operations in a specific manner.
Let's look at some of the most significant benefits of umbrella branding.
The benefits of the family branding strategy are quite potent & prominent.
As products operate under a singular identity, a significant boost in sales for one product automatically enhances the value and sales. This creates a ripple effect that affects every offering under the umbrella substantially.
However, despite all the different benefits, the family branding strategy also comes with significant drawbacks.
Consumers expect the same quality level from every product or service, and any drop can disappoint them. When one entity fails to meet expectations, there can again be a negative ripple effect for every item under the family brand.
Businesses need to measure potential risks and benefits, anticipate outcomes, be ready to take pre-emptive actions & have proper contingencies in place, just in case.
How does family branding differ from individual branding? The following section explores.
Individual branding is the counterpart to family branding. With individual branding, a business has a unique identity for a particular product or service. That brand operates independently of the other entities offered by an organisation. Brands with individual identities have dedicated strategies & resources allocated for marketing & development.
Generally, the performance of an individual brand does not affect the parent company's reputation. This allows companies to implement different market positioning, segmentation, promotional strategies, etc., take calculated risks, and experiment.
Prominent examples of successful individual branding are:
Knorr, Lipton, Bertolli, Cornetto, Magnum in the food & drinks category; Surf, Comfort, Cif, etc. in the home care category; Axe, Dove, Lux, Rexona, etc. in the personal care industry and much more.
Note that Proctor & Gamble and Unilever are not just the parent companies of their individual brands but also their family brands.
Read on for a glimpse of some significant family branding examples.
Some excellent family branding examples are:
And that rounds up this write-up on family branding. Hope it was an informative & exciting read for one and all.
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Ans. Family branding is a marketing ploy that promotes multiple product lines under a singular, renowned brand.
Ans. A carefully executed family branding strategy can reduce the effort and resources spent on marketing-related but distinct products. Furthermore, when a product under the family brand gains recognition, it creates a ripple effect among all the other components.
Ans.: P & G, Unilever, Kraft, and PepsiCo are renowned family brands.
Ans.: Any controversy or drop in quality of any entity under a family brand can disrepute the other commodities too. Maintaining consistent quality across multiple products & entities under a family brand is also a hectic endeavour for any business.
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