Brand name recognition is important especially when a company is using varying brand strategies for multiple products. NetMBA.com points out that there are several strategies when multiple products are being branded.
First, single brand identity means attaching a separate brand to each product; Procter & Gamble do this very effectively with their various brands of clothes detergents (Tide, Cheer, Bold).
Second, the umbrella branding strategy brings all the similar products under the same brand. Sony, a classic example of umbrella branding, offering a veritable plethora of products as "Sony" products.
Third, the family of names strategy entails using a common name root, or stem, to market a company's products; Nestle is a perfect example of family of names strategy (Nescafe, Nesquik, and Nestea are all beverages under the Nestle brand).
And forth, according to NetMBA's web pages, is multi-brand categories; Campbell Soup Company has it's own soups, and it has Pepperidge Farms for its baked goods, and V8 for its juices. These brands have so much popularity and recognition on their own, it doesn't matter whether or not the consumer is aware that they all fall under the Campbell Soup corporate brand.
An article in BusinessWeek Online discusses the concept of multibranding from the point-of-view of Pizza Hut, KFC, and Taco Bell all being under one roof. The consumer rules, always, and for companies that haven't figured that out, it's going to be a slow year in 2007. But meanwhile, according to this article (Khermouch, et al., 2002), the Smalley family of Eagen, Minnesota has a two-year-old son named Josiah; like many families, the kids have "veto" power over where the family chooses to eat.
So, the parents of Josiah have become "painfully aware" that Josiah prefers pizza to chicken or Mexican food. And, when heading back to Atlanta's airport after a family visit, Josiah's mom Misty knows what to do when it comes to everyone in the car being hungry, and nobody wanting to go home and wait until she fixes something. They leave I-85 and go to the KFC-Pizza Hut Express store, which is owned by Tricon Global Restaurants (recently re-named YUM).
And "while Misty enjoys her drumsticks," writer Khermouch explains, "Josiah nibbles on pepperoni pizza. 'My son won't eat KFC, but I love it,'" Misty explains. "That's why we come here."
The Louisville-based YUM believed at the time of this article (2002) that multibrand stories were a key to pumping up their domestic sales - "well beyond the tepid 2% rate the company" had seen in recent years. There is another angle to their believe that by building more than 300 of those multibrand stores a year, they can cut into some of the McDonald's grip on the fast food industry. When at first YUM attempted to "broaden the menu of the individual brands" they own, it didn't work. "Every time we've tried to venture into a new category," said YUM CEO David C. Novak, "we've failed because we've lacked credibility." He added, cryptically, "Nobody is waiting with bated breath for a Taco Bell burger."
So, the credibility problem is eliminated because it offers "trusted brands," brands that people are very familiar with like KFC, Taco Bell, and Pizza Hut; the multibrand combination of KFC and Pizza Hut, for example, now generate more than $1 billion of YUM's $14.5 billion in sales in the United States. An example of how lucrative it can be to multibrand, while a standard $200,000 upgrade of a KFC may increase sales by maybe 5% to 10%, spending half that much, $100,000, to add Taco Bell to the menu "can spike sales by 25%," the BusinessWeek article explains.
This is not to say it is as easy as a walk through the park to juggle menus and cooking technologies to serve both pizza and Mexican food from the same kitchen. "From an operational angle, it can be a challenge, said Munir Taherbhai, the proprietor of a KFC-Pizza Hut Express store in the Atlanta area. Moreover, there can be some "snarly issues among KFC, Taco Bell, and Pizza Hut franchisees, all who covet multibrand rights for their area," Khermouch, et al., assert in their article. How are these rights distributed? They are given out on a "case-by-case basis," according to the article.
And further, the "proliferation of combo stores may blur brands that Tricon has worked hard to differentiate," the article continues. Simon Williams, chairman of the Sterling Group consultancy, which was involved in Burger King's latest re-branding, said the "...branding benefit is pretty bloody confusing." One interesting note is that the YUM multibranding strategy (KFC, Pizza Hut, Taco Bell) is aimed at afternoon...
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