Family brand is an efficient marketing tactic used by companies to promote a group of similar products under one creative branding process. The focus is placed on the parent brand name while a simple grouping system is implemented to simplify the marketing process. It has proven to be a profitable, cost-effective, and wise strategy for diversified businesses. Companies planning to step into different markets also adopt this method to utilize their brand equity from one product line to the new ones.
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Is family branding as simple as it sounds? No, there are several technical and creative layers that professionals need to unfold for this strategy to be successful.
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1. Family Branding Definition: Explained
The family branding definition is based on leveraging the power of one successful brand identity to diversify the business with different product lines. This branding strategy has been majorly productive for companies in the food industry, personal care industry, IT industry, apparel lines, etc. Let’s unfold the different concepts used in this approach to make it a success!
2. Concepts Used In Family Branding For Effective Results
Branding experts use different concepts to form a family branding strategy that yields success for a company. All of these theories are interrelated yet distinctive in their application.
Categorization Method
This method guides a company to categorize its products into different branding plans keeping consumer records in check. Since customer decisions are often influenced by their past experiences, it is beneficial to divide products into specific groups.
Validation Bias
Validation bias tells a business to use its market value and brand goodwill to promote all its products. It instructs the branding team to use pieces of evidence that make every product relatable to the parent brand.
Schema Congruity Theory
This cognitive theory explains how consumers use their past experiences to make their present decisions in the market. Therefore, a business may consider rebranding if its previous market record has not been fruitful.
3. Famous Examples of Family Branding
Many companies have set an example in the market with successful family branding. We have discussed two of the most famously known names for you to have a relatable study.
Starbucks Corporation
While Starbucks is a premium coffee brand with multiple outlets across the world, it has set a wide range of related product lines. Starbucks Drink Ware, Starbucks Tea, Starbucks Syrups and Toppings, and various pieces of drinking equipment are sold with the company’s logo on them.
The Tata Group
The Tata Group has established a diversified business with this family branding strategy. The company delves into automobiles, steel products, retail services, consultancy services, IT sectors, etc.
4. Family Branding With VOWELS: A Start To Success!
A successful family branding strategy requires precision and creative expertise, and VOWELS, offers both of these qualities! Our team has mastered the art of innovative branding with new techniques, research-backed plans, and creative ideas on the table. You can plan your business expansion with different product lines with us. Give us a call or visit our website to move a step ahead!
5. Some Common FAQs
Q. What is the primary family branding definition?
Ans. The primary family branding definition is that it involves putting similar products together to promote using a specific creative strategy under the parent brand name.
Q. How to use a family branding strategy?
Ans. You can use this branding approach by developing a substantial brand identity with the help of reliable branding agencies like VOWELS.
Q. Is family branding a successful approach?
Ans. Yes, family branding offers successful results if you follow a tailored method under professional assistance from market experts and creatives.
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