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Branding Strategies in stratagic management
Typology: Study notes
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Firmsoperatinginseveralforeign marketsmustchoosewhetherto allocateseparatebrandnamesto individualproductsorestablisha generic‘family’brandcoveringall versionsoftheiroutputs.Thelatter approachcanbehighlycosteffective, especiallyifthevariousproductsare closelyrelatedthroughassociated usage(e.g.toiletries)oracommon channelofdistributionacommon customergrouporsimilarityofprices. Thisisbecausetheirentireproduct rangemaythenbeadvertisedundera
singlebrandname,thuscuttingthecost ofadvertisingindividualbrands separately.Moreover,additionsto ,productlinesareintroducedeasilyand inexpensivelysincenoextraadvertising orpromotionscostsneedbeincurred. Thenewproductissimplyincorporated intoexistingliterature.Itisnot necessarytoestablishacompletelynew individualbrandimage.Separatebrands areessentialnevertheless,ifthe companywishestoappealtodifferent marketsegments(e.g.inconsequence ofculturaldifference)orwhereproducts aremarkedlydissimilar.
