Multi Brand Strategy Era &Nbsp; Consumers' Brand Audience

In recent years, with the growing maturity of China's consumer market and the intensification of brand competition at home and abroad, the pace of development of China's garment enterprises has slowed down. Management After reaching a certain market margin, clothing Enterprises have to accelerate transformation and upgrading, and the development strategy is changing from the extension of "horse race enclosure" to the connotative growth of intensive cultivation in the past few years, one of which is the most prominent embodiment. Brand war Slightly.
Whether it's a single brand or a multi brand, the ironclad rule is that deciding the survival of the brand is not the brand itself, but the brand audience of the consumer.

In recent years, with the growing maturity of China's consumer market and the intensification of brand competition at home and abroad, the pace of development of China's garment enterprises has slowed down. After a single brand's business has reached a certain market margin, garment enterprises have to accelerate transformation and upgrading. The development strategy is changing from the extension of "horse race enclosure" to the connotative growth of intensive cultivation in the past few years. One of the most prominent manifestations is the multi brand strategy.

Multi brand strategy is a development strategy of enterprises. It is the brand operation mode of product diversification. Its main connotation is that enterprises use different brands according to the target market, and use multiple brands to meet the different needs of different market segments.

Different brands can be positioned in different market segments, so that enterprises can occupy a larger market share. Multi brand strategy can better locate and distinguish different market segments, emphasize the characteristics of each brand product, attract different consumer groups, and thus have more market segments.

Finding a market entry point for enterprises to develop further and gaining higher market profits is a simple assumption for most of the multi brand operation enterprises. When the development of the old brand reaches a certain market bottleneck or when the enterprise expands to a certain extent, re operating a brand will help enlarge the share of the market operation of the enterprise, or make the difference between the brand attributes of the new product and the old brand, so as to enlarge the share of the enterprise's market operation and occupy more market segments. At the same time, when the enterprise runs a certain time limit in the market, whether it is in the operation of the local background resources or social resources has formed a certain accumulation, and the channel resources and operating resources in the market can be shared among some brand products. Only by matching and combining reasonable human resources can we fully give full play to the surplus value of the old resources and channels.

As far as garment enterprises are concerned, there are generally three ways to implement multi brand strategies: one is to create new brands, which is the most frequently used way. Although the motivation of brand diversification is different, one thing is quite the same: when a company wants to enter a new market and face new consumer groups, it is necessary to consider whether to choose a brand new. The advantages of new brands are strong plasticity, brand positioning, brand style and other aspects of the development of flexible, no need to be limited by historical factors; disadvantages are low brand awareness, high cost of brand promotion, long growth process. The two is the joint venture advantage brand. Through capital operation or mutual cooperation, the brand competitiveness of one or more brands that are comparable to the original brand strength of the enterprise and the relatively high reputation of the industry will be closed down, and the competitive power of both brands will be promoted simultaneously through the complementary advantages between the original brand and the joint venture brand. Then, we will try our best to combine the new brand portfolio with our competitors to embezzle the market share of the leading brand. The three is to compile inferior brands. Enterprises will incorporate some inferior brands through capital operation, and then endow them with new blood and new vitality so that they can recreate their value.

With the intensification of market competition, the multi brand operation of strong brands has become a trend. In the early and middle stages of the implementation of multi brand strategy, different brands usually have different franchised stores for differential competition, so as to avoid duplication of product market within the same enterprise. Some enterprises even deliberately hide information and avoid giving consumers the recognition of multiple brands for the same enterprise. Under such circumstances, the differentiation between multi brands has become the goal pursued by enterprises. Every time a new brand is created, it is tantamount to starting a new business. From product development, to channel, and management, as far as possible, it is different from other brands, and the more thorough the differentiation, the better. Following this strategy, the development and growth of new brands will enable enterprises to occupy new market space. But the problem is that the investment in creating a new brand, including manpower and material resources, is also multiplied. At this point, it is easy to cause the contradiction between the owners and managers. The business owners are thinking about how to make the best use of the existing resources of the original brand so as to minimize the investment and reduce the risk of new brands. Managers want to minimize the impact of the original brand, so as to avoid falling into the original brand management pattern and making the differentiated business plan fail.

"Getting higher market profits" is the primary idea of multiple brands, but it is what enterprises want to pursue to enhance their social value and brand value and obtain higher capital credibility. One of the biggest differences between brand management and product processing and operation is embodied in the intangible value and intangible assets of the brand. Enterprises in the market have a good development prospects and have sufficient purchasing power of consumer groups, for enterprises will become an invisible social value. Generally, large and multi brand companies have been listed successfully. Therefore, whether an enterprise has an active performance in the trading market has become one of the concerns of the stock buyers. And operating multiple brands can also transform invisible capital into tangible assets in the trading market, and even push the business and brand to the capital market through the publicity of the market to gain the profits of the capital market.

How many brands should a company have? At this stage, there is no definite answer. The multi brand strategy is a trend, but the extension of the brand is not an overnight effort. Multi brand building is not as simple as registering several trademarks. It is not that all resources of enterprises can become the basis of multi brand operation. Compared with the single brand strategy, multi brand strategy has its own advantages, but there are also limitations. Risk exists for everyone. An important determinant is the strategic role and status of each brand. The key to foster strengths and circumvent weaknesses lies in the implementation of scientific strategies. For companies that use brands in product or product range, increasing the number of brands appropriately will be harmless. So before deciding how many brands to use, we need to analyze the brand specific market objectives, and segment the market according to product, customer expectation or customer type. Multi brand operation needs to avoid the corresponding risks. Otherwise, the wonderful idea of "putting eggs in different baskets" can only be wishful thinking. In the increasingly fierce brand competition, enterprises should seriously consider the driving force of consumers when facing products, and how to truly get consumers' spiritual approval. Because no matter whether single brand or multi brand, the ironclad rule is that deciding brand survival is not the brand main body itself, but the brand audience of thousands of consumers.