Soffia Inc. manufactures a moisturizing soap with anti-ultraviolet properties, which is sold under the brand name DewMist. The company also manufactures Safechoice, a non-abrasive, antibacterial brand of soap, which is a different brand. Which of the following strategies has Soffia used in this scenario?

a. Multibranding strategy
b. Dual branding strategy
c. Cobranding strategy
d. Family branding strategy

Multibranding strategy

Explanation:

Multibranding strategy can be defined as a type of strategy in which a company gives its product a different brand name. It involves a producer selling different brands under the same product segment.

In Multibranding strategy there is no space for other competitors in the market. This strategy also strengthens the influence of these various products in the market.

A Multibranding strategy can lead to a great loss if it is not properly handled by the management of the organisation.

Multibranding strategy

Explanation:

-Multibranding strategy is when an organization provides a different name for each product it manufactures.

-Dual branding strategy is when a company uses an existing brand name for a new product with a sub-brand to differentiate it from the existing products.

-Cobranding strategy is when companies make a partnership to sell a product or service and they use the names of the brands involve.

-Family branding strategy is when a company uses the same brand for a group of products.

According to this, Soffia used in this scenario a multibranding strategy.