Should you have multiple brands? Or should you use a single brand across your company?
It depends on who your customer is. And what your budget is.
If you’re chasing different customer segments, then a multi-brand strategy can work by allowing you to position yourself to specifically appeal to different market segments.
If your customers are the same across the board, then a single brand strategy is the way to go.
Customer segmentation aside, the most important decision factor is budget.
Spreading a marketing budget of R1million across five brands is like standing in a storm scattering hundred Rand notes in the wind. A waste of time.
In order for marketing to be effective it needs to break through the noise of all competing campaigns.
The minimum marketing budget for your brand depends on the benchmarks of your industry (Insurance and mobile phone operators are amongst the highest.)
If spreading your marketing budget across multiple brands results in the individual brand-spend being below your industry benchmark, you have no choice.
Go single brand or go home.