Family branding generally involves selling and marketing a company’s product lines using a single brand name. Consumers’ experience of a single brand can affect their perception of other products in the brand family. The parent brand tagline and logo many times helps consumers to identify the brand family. By building brand recognition, a company can also build customer loyalty. Some consumers are more likely to purchase a product of a brand they know than a lesser known brand. Brand family has several advantages; it makes it easier for your consumer to find the products of your company and are easily identifiable. Also, the advertising and promotional costs are reduced for the brands coming under an umbrella of parent brand. Sometimes, a new product take advantage of the trust and recognition built by the parent brand thus amending its sales as well as promotion.
However, sometimes a product may suffer being a part of a brand family. If one product in a family doesn’t perform well, it affects other products in the family adversely. Also, companies need to take immense care in ensuring consistency in brands, quality standards and user experiences for each product, as a single inferior product damages the reputation of the whole family.
For example; Toyota family brand has many cars under its umbrella like Etios, Camry and each car and the whole family gets affected by the reputation and performance of other cars in the brand family