Selling multiple brands of the same company in the same market
Selling multiple brands of the same company in the same market requires a strategic approach to avoid brand cannibalization, maintain distinct identities, and effectively target different customer segments. Here’s how you can achieve this: 1. Clear Brand Positioning Differentiate Brand Identities : Define unique selling points (USPs) for each brand, focusing on distinct features, price points, or target audiences. For example, a premium brand could emphasize quality and exclusivity, while an economy brand could highlight affordability and value. Avoid Overlapping Target Audiences : Create specific customer personas for each brand to minimize direct competition. 2. Segmented Marketing Strategies Tailored Promotions : Design campaigns that highlight the unique benefits of each brand, appealing to its target segment. Distinct Communication Channels : Use different marketing platforms to engage with varied demographics. For instance: Premium brands might use luxury magazines and exclu...