Posted in Marketing and Strategy Terms, Total Reads: 1485
Definition: Single Brand Name
Single brand name can be defined as a brand name of a product or a service which is not in any affiliation with any other brand family or comes under any umbrella brand. It is also known as individual branding. In single brand name or individual branding marketers tend to give each product in a portfolio its own unique brand name. In single brand name or individual branding marketers assign new names to new products with no connection to existing products that are being offered by the company to the consumers.
In single brand name or individual branding marketers need to work harder in comparison to umbrella branding since the new product does not have the cushion to ride on the branding established by previously introduced brands. The main advantage of this marketing strategy is that this approach allows a brand to stand on its own and is not threatened by bad branding of different products of the same company. If a previously introduced product receives negative publicity than a new product don’t have to suffer from this when it’s marketing strategy is following single brand name. Also, brands which follow single brand name can create financial gains through this concept called as brand equity. Under single brand name each brand builds its own equity. Individual branding can occur in both small and big companies.
In single brand name a company may use a different name, logo and marketing strategy for each product it sells. Single brand name strategy gives a company an opportunity to market its different products to different demographic groups and may introduce different products in different manner. However, single brand name strategy has a disadvantage that it cannot leverage the positive publicity and branding created by other products of the company and also may not enjoy a sense of familiarity among consumers which certain brands enjoy under family branding.