由實務現象可觀察到有愈來愈多的企業採取在同一個產品類別裡，推出多個品牌的模式，亦即以品牌組合的策略來和競爭對手抗衡。而進一步分析這些擁有多個品牌的企業歷史可發現有三項因素會影響到其品牌組合的內涵，即其所採行的企業成長策略、所累積的企業品牌之品牌權益，以及品牌組合所欲追求的目標。 本研究以三種企業成長策略：密集式、整合式、多角化，與五項目標追求：綜效、槓桿運用品牌資產、維持和消費者的相關性、打造強勢品牌、創造產品的明確性，分別檢視六家多品牌企業的品牌組合內涵。 研究方法採用個案研究法，選定六家個案企業：黑松、味全、王品、花王、郭元益、豐田等進行深入訪談並蒐集各類型的次級資料，整理出各個品牌的市場表現及形成背景，還有目前各企業品牌的品牌權益表現，以及從創立到現在採行過的成長策略、策略選擇的背景、所要追求的目標，以及達成的效果；此外更進一步了解個案企業如何將有限資源分配到各品牌以及各品牌如何發揮其角色與功能。 研究發現：(1)成長策略會直接影響品牌組合策略之內涵;(2)「成長策略影響品牌組合策略」之關係會受到企業品牌之品牌權益調節；(3)品牌組合目標之設定有優先順序之別；(4)企業的成長策略會直接影響品牌組合目標之達成；(5)品牌組合目標會直接影響品牌組合策略之內涵；(6)品牌組合目標之追求會直接影響企業成長策略之選擇；(7)企業品牌擔任背書品牌的前提為企業品牌擁有高品牌知名度與極佳的知覺品質認知；(8)形成「共同推動之副品牌」的前提為此副品牌擁有高品牌知名度與極佳的知覺品質認知；(9)主品牌、副品牌、品牌差異者、策略性品牌、增色品牌、品牌活化者愈多時，愈能提升企業品牌之品牌知名度；(10)一企業採行密集式之成長策略有先後關係。 / From practice can observe there is more and more companies take multi-brand strategy in a single product category. In other words, they compete with others by brand portfolio strategy. Further analyze these companies can find there are three factors will influence the content of their brand portfolio strategy: corporate growth strategy, brand equity of corporate brand, and the brand portfolio objectives. This study is trying to examine the content of brand portfolio strategy of six multi-brand companies with three kind’s corporate growth strategy: intensive, integrative, and diversification. And with five types of brand portfolio objectives: synergy, leverage, relevance, strong brand and clarity. This investigation is based on a case study research. The cases include Hey-Song, Wei-Chuan, Wang-Steak, Kao, Kuo-Yuan-Ye, and Toyota. By depth interview and gathering multi-kinds of secondary data, the study gets each company’s contents of brand portfolio, such as current performance, background, brand equity, corporate growth strategy, and brand portfolio objectives. Besides, this study also finds out each case how to allocate the limited resource and how to define each brand’s role and function. The result reveals: (1) growth strategy will directly influence the content of brand portfolio strategy; (2) the relationship between growth strategy and brand portfolio will be adjusted by equity of corporate brand; (3) the brand portfolio objectives have priority; (4) growth strategy will directly influence the effectiveness of brand portfolio objectives; (5) brand portfolio objectives will directly influence the content of brand portfolio strategy; (6) brand portfolio objectives will directly influence the choosing of growth strategy; (7)the premise of corporate brand as endorser brand is that the corporate brand owns high brand awareness and excellent quality perception; (8)the premise of being co-brands is this sub-brand owned high brand awareness and excellent quality perception; (9)the more master brand, sub-brand, brand differentiation, strategic brand, silver brand or brand energizer, the higher brand awareness of corporate brand will be; (10) there is priority when a company taking intensive corporate growth strategy.