With the rapid development of information technology, the world is increasingly connected and the gap between companies and consumers is shrinking. Meanwhile, with a challenging global economic climate, companies have to create new marketing models in order to adapt and succeed in this ever-changing business environment.
P&G uses multi-brand strategy in conducting its business. Multi brand strategy refers to a marketing strategy that two or more similar products of a firm are marketed under different brand names. In most of the cases, these products are marketed under the brand names which are completely unrelated. Marc Pritchard, Global Marketing & Brand Building Officer of P&G said the key to a brand to be successful is it really defines what its benefit is and delivers the benefit in the way that better than any other competitors to make people’s life better. The aim is to meet needs of many people with many different ways.
I think this multi-brand strategy has three advantages: First, by adopting multi-brand strategy, the company can obtain greater market space and market share. Second, by promoting similar products under different brand names, the company can fill up the price and quality gaps of the target market. In this way, the market can become saturated with the similar products of the same company. In addition, this kind of strategy caters to the customers those who like to... [continues]
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