What is Family Branding?
Family Branding, also known as Umbrella branding, is a strategy used by firms where they use a single brand name to market various related products. That is the dictionary definition of it. But to really understand what is family branding, you need to see a real-life example of it and an excellent one would be as follows:
Apple Inc. is a very successful corporation that has built a multitude of technologically advanced devices to ease daily life. Now although it has many different products, they’re all sold under the Apple brand. This makes them easily identifiable by consumers who spot the Apple logo and instantly know what brand the product belongs to.
Why Family Branding
Family Branding has some very distinct advantages that individual branding can’t offer. For instance, if Apple were to launch a new product, it would be more easily accepted if it bears the Apple logo than if it didn’t. Companies that adopt Family Branding as a marketing strategy enjoy low costs of advertising since their brand name is already well-established.
There are downsides to Family Branding of course, such as one faulty or low-quality product that could bring the image of the entire brand down. But the pros outweigh the cons and family branding has proven to be very successful over the years.
Making Smart Strategies to Adopt Family Branding
If a business wishes to extend its brand portfolio, family branding is an ideal strategy for them. In order to successfully indulge in this strategy, it’s crucial to understand and realize the quality of the parent brand. The popularity of the parent brand will directly influence the sale of the product.
While one easy way of getting a strong family brand going is to get your company registered with some fancy and expensive branding agency in Dubai who will tell you the importance of branding for your business and help you attain popularity and a better branding strategy. But if that’s beyond your reach, you may follow the steps below to work on your family brand:
1. Build strong core values
Every company and business runs on certain core values and these values serve as the foundation of this business. If a business adheres to these values and pays due respect, the products and services of this company will reflect these values. This ensures that the good image the company has built in the consumer’s mind remains there and guarantees the loyalty of the consumer.
2. Be creative
To be successful, the business needs to have the most creative minds on their teams. Everything from the marketing strategy to the product packaging needs to be creative and innovative if a business is to garner and maintain the attention of the customer base. A non-creative brand will not turn heads and therefore go unnoticed when in the presence of brands that work on their creativity.
3. One for all and all for one
One of the main advantages and disadvantages of the umbrella or family branding is that the image of one product in the line can determine the fate of the entire line. For the entire line to succeed, therefore, each and every product needs to be extraordinary. There should be uniformity in the quality of all products and services to ensure that the entire brand doesn’t suffer due to the shortcomings of one product.
The family Branding strategy has many successful examples all over the world. A number of noteworthy brands engage in such a strategy and have seen a significant rise in sales and acceptance of new products due to it.
It’s not all that hard to get on board with this strategy to gain popularity and success. All it takes is commitment and dedication towards building a positive image of the parent brand for the overall strategy to see success.
