Family Brand - Definition & Meaning
What is Family Brand?
A family brand may be referred to a group of different products belonging to a single brand that are marketed under their parent brand. The different products with different images are put under the major brand or the parent brand. The family brand is also referred to as an umbrella brand.
The advantages are
- Cheap and easy promotion for all the products, especially the ones launched new into the market
- A single integrated marketing communication will suffice for all the individual products
- The individual products capitalize on the recognition & trust of the parent brand for easy promotion
The disadvantages include
- If one of the products in the family does not perform well, it will affect the other products as well as the parent brand
- If there are different brands with different qualities under the umbrella branding, it may impact the smooth functioning of the entire brand
However, family branding leads to a significant saving in the advertising & promotion costs & helps in launching new products easily and enhances market acceptance of new products. One noteworthy example of family branding is that by Apple where all the products are marketed under the Apple brand. The Apple brand and logo helps customers to easily identify Apple products and instills faith in them. Other examples include Tata Group of products & Johnson & Johnson.
Hence, this concludes the definition of Family Brand along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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