Brand Names

How do you name a product? Simply put it, there is no easy option. Depending on how established an organisation is, there are a number of ways to brand a product.
Individual name: A product could be branded with an individual name. A firm may decide it wants a brand, which has no association with any of its other brands. Volkswagen in the UK, for example own the brand SEAT and Skoda
Family brand: Where a product is part of a family, e.g. Kellogg’s, with Corn flakes, Rice Krispies, and Bajaj in India. The brand is stretched to other products because customers trust it, and the firm is trying to maximize the equity it holds in the brand.
Combined brand name: A popular strategy involves the organisation combing the already established family name with a new individual brand name. The idea is to use the reputation of the established family or company name to launch a new associated product. For example Nestle may use their name to launch a new cereal or cereal bar.