Four Branding Strategies
Smart entrepreneurs use different branding strategies to maximize their market reach. Umbrella branding uses the same brand name for different product varieties - like Apple making iPads, iPhones, MacBooks, and AirPods.
House branding involves one organization creating different brands and products - P&G makes Tide, Downy, and Surf, but they're all from the same company. Line extension approach modifies existing products while keeping the same brand - like offering powdered milk, sterilized milk for kids and adults, but it's still milk.
Product extension approach carries your brand name into completely new categories. General Electric started with kitchen appliances but expanded to washers, ovens, and refrigerators - same brand, totally different product categories.
Strategy Tip: Choose your branding approach based on your resources and market goals - each strategy has different benefits!