Moreover, given the potential of brand extension as an effective and frequently used branding strategy, marketing researchers have been paying increasing attention to the extension strategy. Many companies try to capitalize on their valuable brands by introducing brand extensions, which are new products that are introduced under an existing brand name. A brand extension is what you need when you want to appeal to new audiences with the brand you already have. Line extension a line extension is a product that incorporates a slight twist on an established brand it utilizes the older brand’s name and imagery, and is usually in the same general product category.
You just clipped your first slide clipping is a handy way to collect important slides you want to go back to later now customize the name of a clipboard to store your clips. Brand extensions- keys to success in international marketing [carolin wobben] on amazoncom free shipping on qualifying offers over the last decades, an increasing number of international companies have strived to capitalize on the value of their most real and marketable assets: their brands urged to withstand the pressure of intensifying global competition. Brand identity means much more than a logo a brand is the sum of who we are and all that we do — from delivering research-based solutions and a stellar customer experience to serving as a trusted partner and enhancing the quality of life for north carolinians.
Offers useful insights into the reasons that some brand extensions fail and others succeed describes two experiments and a conceptual framework of how consumers evaluate brand extensions. Brand extension, also known as brand stretching, is the use of a well-established brand name for a new product or new product category. “brand extension is using the leverage of a well known brand name in one category to launch a new product in a different category.
These core entities directly support ub’s mission, all tying closely to our master brand. When brand extensions win over loyal brand consumers with a new product, it is a win with lasting benefits for the brand, including increased revenue and greater name recognition. Brand extension introduction: brand extension refers to the corporate activity whereby companies introduce new products, new product variants or product improvements by leveraging the brand equity of the existing parent brand. Start studying chapter 13 - brand extension learn vocabulary, terms, and more with flashcards, games, and other study tools. Types of brand extensions 1 product form extension when a brand is launched in a different form, it is line extension if a different product form is within an entirely different product category, it will be a brand extension.
Articles published in strategy+business do not necessarily represent the views of the member firms of the pwc network reviews and mentions of publications, products, or services do not constitute endorsement or recommendation for purchase. Right now, brand extension is important for companies that want to be innovative and ahead of the game in regards to business trends this is currently an emerging trend that has great potential simply because the focus is on both the business and the consumer. Not all companies are that good at starting new lines, however the iced tea company arizona, for example, should probably have stuck to its delicious beverages instead of dabbling in the dip. How willing are consumers to accept brand extensions that aren’t a close fit with the brand’s previous products it depends on the consumers’ state of mind, according to three researchers.
Line extension and brand extension address the marketing of commercial goods the brand refers to the recognized product or company name such as kraft, pepsi or apple the way in which the company. As a member, you'll also get unlimited access to over 75,000 lessons in math, english, science, history, and more plus, get practice tests, quizzes, and personalized coaching to help you succeed. Brand extension — or brand stretch — is a means for companies to enter new categories with existing brands it is based on the premise that brands are valuable assets that can and should be strategically and selectively extended. The indian market and the indian consumer are evolving india is currently on its growth path, and india, currently the worlds twelfth-large.
18 volume v september 2012 sibm 19 volume v september 2012 sibm brand extension: a strategy for competitive advantage dr tarun kushwaha associate professor. The brand extension (also referred to as the brand split) is the separation of the wwe talent roster (and, at various times, creative staff) into distinct divisions, or brands the strict adherence to the on-screen integrity of the brand split has varied over time in march 2002, wwe began promoting its core business of professional wrestling through two distinct brands, named after their. Brand extension is a popular marketing strategy where a firm uses the already built brand name for a different product category this new product is usually termed a spin off.
The thorniest question in brand strategy is how to keep growing at some point in the life of a successful brand, marketers will feel the pressure to extend its success by “leveraging” the brand into other offerings. Brand extension is the use of an established brand name in new product categories this new category to which the brand is extended can be related or unrelated to the existing product categories a renowned/successful brand helps an organization to launch products in new categories more easily. Brand extension to describe using the leverage of a well known brand name in one category to launch a new product in a different category at that point in time, there was no recognition of what a brand extension was or any systematic methods to pursue brand extension new products.