Individual branding, also called individual product branding, flanker brands or multibranding, is "a branding strategy in which products are given brand names that are newly created and generally not connected to names of existing brands offered by the company."[1] Each brand, even within a same company, has a unique name, identity and image, allowing the company to target different market segments, tailor pricing and marketing strategies, and separate the image and reputation of different products.
Individual branding contrasts with umbrella branding and corporate branding, in which the firm markets all of its product together, using the same brand name and identity.[2]
Applicability
Individual branding is the most effective when a company offers numerous unconnected commodities, which vary in quality and price and target different market segments. It is also useful when introducing a new, high-risk product to the market, in order to manage risks to existing brands if the new product should fail.[3] However, the expected revenue from a new brand must justify the higher costs of marketing and advertising.