Family Brand
This article covers meaning, importance & example of Family Brand from marketing perspective.
What is Family Brand?
A family brand may be referred to a group of different products belonging to a single brand that are marketed under their parent brand. The different products with different images are put under the major brand or the parent brand. This forms a family of brands within the main brand name which customers associate with due to its legacy & strong performance. The family brand is also referred to as an umbrella brand.
Importance of Family Brand
Every company desires to have a strong brand name for its products and services. When some companies achieve a successful brand name over the years, they often extend their product lines & categories and use the parent brand to grow their product line. The idea is to use the main brand name and build a family of sub-brands leveraging the strong parent brand name. Family branding leads to a significant saving in the advertising & promotion costs & helps in launching new products easily and enhances market acceptance of new products.
.Advantages of Family Brand
The advantages of having a strong family brand are:
1. Cheap and easy promotion for all the products, especially the ones launched new into the market
2. A single integrated marketing communication will suffice for all the individual products
3. The individual products capitalize on the recognition & trust of the parent brand for easy promotion
Disadvantages of Family Brand
Some of the disadvantages include:
1. If one of the products in the family does not perform well, it will affect the other products as well as the parent brand
2. If there are different brands with different qualities under the umbrella branding, it may impact the smooth functioning of the entire brand
Examples of Family Brand
One noteworthy example of family branding is that by Apple where all the products are marketed under the Apple brand. The Apple brand and logo helps customers to easily identify Apple products and instills faith in them. Other examples include Tata Group of products & Johnson & Johnson.
Hence, this concludes the definition of Family Brand along with its overview.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
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