Final answer:
Multiproduct branding is known as umbrella branding or family branding, where a company uses the same brand name for multiple products.
Step-by-step explanation:
Multiproduct branding is also called umbrella branding or family branding. This strategy involves a company using one brand name for selling multiple products or services. A classic example of multiproduct branding can be seen in the offerings of companies like Coca-Cola or Pepsi, which although are known for their flagship soda drinks, also sell a variety of other beverages under the same brand name. In contrast to monopolistic competition, where businesses fight for market share while simultaneously commanding a mini-monopoly with their unique flavors or brand names, multiproduct branding focuses on consistency and leverage of the established brand across various products.
Another related concept is bundling, which is different but shares the principle of marketing synergy. Bundling involves selling multiple products or services together as a package deal, which can provide a value proposition to a consumer. For instance, cable companies often bundle internet, phone services, and cable television for a special price, trying to capitalize on the convenience and discount aspects of purchasing these services together.