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sikkim manipal university assignments MB0046- Marketing Management Q1. A brand is a composite set of beliefs and associations in the mind of consumers. In brand development, as a part of branding strategy decision, the brand manager can decide to create new brand elements for the new products, apply some of the existing brand elements to the new product, or use a combination of existing and new brand elements to the existing and new products. Explain the different branding strategies used by the companies for their range of products.

Answer: Companies use different branding strategies for their range of products. They can be categorised into the following three types.

Individual branding – In this case, the company adopts a separate brand name for each product it offers. For example, Hindustan Lever markets its range of toothpastes by different brand names such as Close-up, Pepsodent, Pepsodent-G, and New Pepsodent. Likewise, it
offers bathing soaps in different brand names such as Liril, Rexona, Lux, Lifebouy Plus, and Lifebouy Gold. The major advantage of individual branding is that if one brand loses its market, the others may offset sales in the particular product category. However, the company has to
spend a lot of money and pursue enormous promotional efforts to position each brand in the consumer’s mind. Large multinationals such as Hindustan Lever, Proctor and Gamble, etc. follow individual branding strategy.

Family branding – This is another type of branding strategy followed by some companies which have developed their family names. For  example, Godrej is a family name used for all its products. Likewise, Ponds uses its name for all products that include shampoos, talcum
powders, and creams. The major advantage of using family name for products is that it minimises advertising and other promotional costs. But, if one product in the group is perceived negatively in terms of quality, or in other aspects, by consumers, it may pull down the entire range of products. Hence, companies which use family names for branding must be cautious.

Corporate umbrella branding – Companies such as Tata, Coke, and Pepsi are not only using individual brand name for the range of products they market but also use a corporate umbrella cover for their brands. It is the corporate logo, symbol, or trademark which provides protection to the individual brand. The idea is that the corporate name symbolizes trust and confidence to the buyers.

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