Posted in Marketing and Strategy Terms, Total Reads: 2874
Definition: Brand Variant
Brand Variant means offering different versions of the same product which are different in terms of price, flavour, quality, color, nutrients, etc. under the company’s brand name. It can leverage the brand popularity for diversification.
• Kellogs make different types of cornflakes like Crunchy Nut(Roasted Nut and Honey) and Crunchy Nut(Golden Honey Nut Flakes)
• Domino’s Pizza Quick Svc Restaurant which offers Pizza under the names of Domino’s Pizza Restaurant-Quick Svc, Domino’s Pizza Restaurant-Quick Svc Cheeseburger Pizza, Domino’s Pizza Restaurant-Quick Svc Bread Bowl Pasta, Domino’s Pizza Restaurant-Quick Svc Cheesy Bread and Domino’s Pizza Restaurant-Quick Svc Buffalo Chicken Pizza.
The automobile companies give a clear picture of brand variant. Car companies like Maruti Suzuki, Honda etc. offers cars from a small sized cars segments to medium and large sized car segments according to the need of market and peoples and also from sports car to van for families according to the utility.
It can also be referred as brand extension.
Benefits of Brand Variants:
• Sustaining brand loyalty
• Potentially increased profits
• Larger market share
Customers will feel confident as they count on company's products to meet a wide range of their needs and preferences.