Updated 10-6-23
The simple answer is yes, but it really isn’t a simple matter.
When done correctly you will grow your business value significantly.
It is often the reason for buying a competitor and a complimentary product line.
Initially, the evaluation of synergies, existing brand awareness and brand disruption must be done. This provides the foundation of developing the strategy (long and short-term) for bringing the multiple brands and products under 1 (0ne) umbrella brand.
Assign a group to the task and expect disagreements. Varying view points helps insure a variety of perspectives will be evaluating the issues you can face ahead of implementing strategies.
Studies can be done to show the outcome you want, but being biased won't provide an accurate picture of the situation and ability to rebrand successfully.
To begin with, you must understand the “individual product and its brand awareness” and how it works within the big picture of the main brand. Also consider the individual target audience of each product and brand.
Being thorough in looking at these facts will determine which brand is the strongest to use as the umbrella brand and whether it is appropriate main identity for every product.
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