During the pandemic, when most people were forced to spend more time at home, interest in diet catering increased significantly. Now that the market is competitive, catering companies need to use new strategies to attract customers. Therefore, the method of running multiple brands by one company has become a common marketing solution.
The Goals of Multi-Branding
Running multiple brands through one company can provide several advantages:
Increasing the Number of Customers
A multi-branding solution allows you to reach a broader customer base with different needs and expectations. For example, Nice to Fit You Catering focuses on a luxurious and exclusive menu, while Republika Smakoszy Catering - which falls under the same company - targets those looking for more economical options.
Increasing Menu Diversity
Catering companies with different brands have the opportunity to innovate on many levels. One of them is to increase the diversity of the menu, which allows them to satisfy the tastes of customers with different food and culinary preferences.
Greater Freedom of Communication
Not only the menu but also the style of communication with customers can be unique to specific brands. Each brand can have its own individual tone and style to better suit the type of customers. This allows you to build a strong relationship with consumers and increase their loyalty to your company.
Flexibility and the Ability to Experiment
Having multiple brands grants companies flexibility and the freedom to experiment with different strategies and innovations without risking the reputation of their main brand. Importantly, each catering brand can experiment independently, minimizing the risk of negative consequences for the main brand. In this way, companies can respond quickly to changing market conditions, opening the door to creativity and innovation.
Challenges Related to Multibranding
Despite the advantages mentioned above, it is worth remembering that multi-branding also comes with challenges, such as:
Managing Different Brands
First and foremost, managing different brands requires an investment of time, resources, and energy to maintain consistency in image and branding, as well as to develop different marketing strategies.
Communication difficulties between teams may arise when running multiple caterings, and managing separate business operations can be challenging for managers who must coordinate various activities and processes to ensure the success of each brand.
Cannibalization Risk
One brand can negatively affect the sales of another brand owned by the same company, causing customer confusion and weakening market positioning. Proper management of each catering's narrative and communications is essential to mitigate this risk.
Blurring of the Company's Image
Multi-branding can lead to a diluted corporate image, making it difficult for customers to identify with individual brands. Competition between caterings can lead to sales dispersion and market division. That's why it's significant to properly define each brand.
How to Ensure Your Company Realizes the Potential of Multi-Branding
1. Carefully understand your customers' needs and identify the different market segments you want to target.
2. Plan your brand-specific pricing strategy accordingly. Offer products in different price ranges to reach a wider audience.
3. Ensure proper implementation of your marketing strategy. It is also significant to ensure consistency in the image and products offered by each brand, while allowing them to grow individually.
4. Experiment with new concepts and provide a unique style for each brand. An innovative approach will give your company the opportunity to create unique marketing and communication strategies. This will give each brand its own unique style and character, minimizing the risk of cannibalization.
Popular Examples of Multi-Branding
Premium Fit Catering and Fit Balance Catering - both brands belong to one company, but target different audiences. Premium Fit is aimed at people who appreciate luxury and exclusivity, while Fit Balance is a brand for people who are looking for a healthy and tasty diet at an affordable price.
Green Chef Catering and Fruiteatox Catering - both brands focus on plant-based diets but have slightly different approaches. Green Chef is for people who appreciate exquisite and varied flavors, while Fruiteatox focuses on a detoxifying and cleansing diet.
Green Puzzle Catering and City Diet Catering - both offer healthy and balanced meals, but differ in their approaches to customer preferences. Green Puzzle Catering focuses on vegetarian and vegan dishes, while City Diet offers menus tailored to clients' specific diets and lifestyles.
How Flambia System Can Help Your Business with Multi-Branding
Managing Multiple Brands
Flambia System allows you to run multiple diet catering brands within a single platform. This allows users to easily manage different brands, their menus, prices, and promotions.
Order Automation
The system enables order automation, leading to faster and more efficient customer service. Orders can be placed online, and Flambia System automatically forwards them to the appropriate catering, minimizing the risk of mistakes.
Performance Monitoring
Flambia System allows the performance of each company's catering to be monitored for better business management. You can track key indicators such as revenue, costs, and other metrics to make informed business decisions.
Data Analysis
The platform allows you to collect and analyze data on orders, customer preferences, marketing effectiveness, etc. This enables you to better understand your customers and tailor your offerings to their needs.
Marketing and Promotions
With Flambia System, you can run effective marketing and promotional campaigns to attract new customers and increase sales. With the ability to integrate multiple brands, you are assured that each brand's strategy will be properly aligned.
Check out how Flambia System can help with the development and management of multi-brand catering! Click and schedule a demo today!
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