In Individual branding a brand establishes itself as a completely new brand with the message of bringing a unique brand identity in the market. This helps the brand to compete against new potential brands and hence it is not closely linked to the brand it is free to find its own market and has multiple advantages to family branding.
The need for an individual branding strategy increases during the times of crisis. Considering 50 years back people were not very sensitive to a brand’s overall image and trusted on the products and the competition was at a lower scale but now the game has become inflexible and people have more sentiments attached to a brand’s overall career.
A well-known example of Individual branding or marketing is P&G (Procter and Gamble) that includes more than 65 individual brands and operates freely with unique brand recognition in the market without many of us realizing that they are part of the same company. P&G brand’s baby care brands include All Good, Luvs, Pampers, whereas P&G Fabric Care includes Ariel and much more.
A parent brand’s equity remains unaffected if the product fails. Leverages new market opportunities and explores various marketing methods. Individual brands can approach different methods to reach new customers. Individual brands can enter to sell lower category products without influencing the master brand’s image.he market.
Has a higher risk of instability in the market. Attracts cost to establish a new brand. Lack or absence of regular customers or established market. Requires more effort to establish itself in the market. Involves risk of early failure. Lack of acknowledgment even in the long run. Brand equity is not as powerful to sustain a small crisis