The strategy always refers to the brand itself. The fire always evolves according to its own rules. Industry, product characteristics, market data and target groups play an essential role.
The single-brand strategy focuses on one product or one specific service, each of which has its own brand identity and image.
In the multi-brand strategy, several brands exist for individual product types. This sometimes results in the individual brands competing with each other. Want an example? The Henkel brand under which Persil, Perwoll, Vernel and Co. are summed up – all brands for detergents.
Then there is the umbrella brand strategy. Dr.Oetker could be mentioned here, for example: Several products can be subsumed under this, but the main focus is always on the umbrella brand. Possible disadvantage? Coming to a common denominator when several very different business areas and products fall under this umbrella brand.
In the family brand strategy, certain product groups of a company are combined under one brand. Within a company, several brands thus exist side by side, each pursuing completely different goals. What is it good for? Consumers are confronted with the same brand promise over and over again, which strengthens trust, while this also has a positive effect on newer and existing products, which people are therefore more open to.
The brand transfer strategy is only relevant if the aim is merely to introduce a product innovation, not a new brand. Instead, it’s about transferring the existing brand to the new product.The advantage? The image of the existing brand alone is enough to get consumers excited about the new product.