1. You learned that brand extensions could be very successful to a parent brand or very damaging. 2. You learned the difference between a line extension and a category extension. 3. You learned about the different type of brand extension strategies and which one works best for certain brands. 4.
Nov 21 2016 Use marketing research also to test the possible new brand extensions. 5. Make the brand extension a logical fit. The new product must be a logical fit to the brand compatible expected and follow the current brand story. The link between the new product and the parent brand should be
Brand Extensions. Horizontal brand extensions 1. Category extensionuse the parent brand to enter a different product category 2. Line extensionadds a different variety form or size or application for the brand Vertical brand extension 1. Upward extensionextend brand up to premium market segment e.g. beers to wine 2.
A product line extension is when a company creates a new product in the same product line of an existing brand. The strategy for an extension could be a different color or size and it may have
A product line extension is the use of an established product brand name for a new item in the same product category.. Line extensions occur when a company introduces additional items in the same product category under the same brand name such as new
Jan 29 2013 BRAND EXTENSIONS Using an existing brand name to promote a product in a different category is Brand Extension. . The key difference between line and brand extension is the product category. . In line extension the pdt. Category remains constant whereas in brand extensions product category is a variable. 20.
Jun 02 2020 The concept of Product Line Extension can be defined as a business strategy where the firm plans to expand its established product brand name with the new range of items in the product category.. The Product Line Extension can be in the form of new colors forms shapes sizes flavors packaging and ingredients.
Oct 28 2018 Brand extensions help revive the brand. One brand extension allows for more extensions in the future. The extensions clarify what the brand stands for. They attract new customers as the brand expands on the market. The core brand is an association for the new product. Thus if the core brand is also associated with quality the new product
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. For example Amul milk extended to Amul condensed milk and Real juices extended to real juice concentrate. 2.
15 condense the available literature to adopt the following definitions of extensions Brand extensions involve the use of an established brand name to enter a new product category Aaker and Keller 1990 . Line extensions in contrast involve the use of an established brand name for a new offering in the same product category Reddy et al
Mar 30 2014 Line extension strategy. 6. Brand extension Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well developed image uses the same brand name in a different product category. A brand s extendibility depends on how strong consumer s associations are to the brand s values and goals.
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. But creating and executing a successful brand extension isn’t as simple as placing an established brand logo on a new product and stocking it on the shelves.
Jul 15 1990 A study of 7 000 supermarket products introduced in the 1970s found that fully two thirds of the ninety three products that grossed over 15 million were line extensions. 2. The most real and marketable assets of many firms are the brand names they have developed. Thus one growth option is to use those assets to penetrate new product
128 years of Coca Cola and its many brand extensions. Marketing traces the history of Coca Cola s original medicinal tonic of the 19th century through to the launch of its first ever variant nearly a 100 years later and beyond to the present day. by Ben Bold. Coca Cola brand extensions from New Coke to Coca Cola Life.
Brand Extension is often confused for Line Extension and vise versa. So let’s clarify these two terms with a few examples. Brand Extension is a marketing strategy according to which a well known brand uses the same brand name to enter into a totally unrelated product category is done primarily to leverage on the existing brand
Brand extension can be as obvious as offering the original product in a new form. For example the Boston Market restaurant chain launched a line of frozen dinners under its own name offering
Product line extension was defined as the appearance of another product that a company introduces within the same market after its existing product. Drug prices were average wholesale prices from the Drug Topics Red Book. The relationship between product line extension and market success was examined using a logistic regression analysis.
May 05 2016 Some brand extensions are limited editions used chiefly for marketing campaigns but others are serious attempts to launch profitable products. We gathered 11 of the strangest beauty products
Building Your Brand with Brand Line Extensions This file is third in a five part series on building and developing a brand in the market. The first file outlined the importance of branding and the process of creating a brand for a new product while the second file examined flanker branding strategies. This series continues with discussion of brand line extensions.
Brand extension is a marketing strategy in which an organization that markets a product or service with a well developed image uses the same brand name but in a different business category. Brand managers use this as a strategy to increase and leverage brand equity. Product extensions on the other hand are versions of the same parent product that serve a segment of the target market and
Mar 30 2018 What is an example of line extension Ries cited a few examples one of which is Apple. One of its latest line extensions is the HomePod. This is a smart speaker that was released early 2018. Apple is a strong brand. Therefore based on Reis’ analysis it shouldn’t matter. The possibility of over extension is non existent.
Jun 16 2015 Line extension refers to extending an existing brand name to new forms sizes colours ingredients or flavours of an existing product category. This is a low cost low risk way to introduce new products. However there are the risks that the brand name becomes overextended and loses its specific meaning.
Sep 21 2020 Line Extension vs. Brand Extension. 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
Jun 17 2020 On the other hand Line extension is the use of the same brand to launch and market a new product in the same product line. Line extension only represents an increase in a product’s line’s depth. It’s easy to realize that Line extension and brand extension are all forms of product extension but what makes the difference is the line
Aug 19 2020 Line Extension vs. Brand Extension. A line extension is within the same category while a brand extension moves beyond. As we learned a line extension is when the same brand puts out a new product in their existing category.. However a brand extension is when an existing brand offers a new product in a product category the brand has never competed in.
With a sharper definition of product extensions and three different types of brand extensions in the present research we theorize and empirically address the following questions 1 what is the contribution of product extensions to a firm s profit in B2B versus B2C markets and 2 what is the contribution of each brand extension type to a firm s profit in B2B versus B2C markets
and frequency of new product line extensions affect the success of a brand in its respective category. This research is interesting for a number of reasons. From the past line extension literature it is not clear whether brands are better off expanding their
Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well developed image uses the same brand name in a different product category. The new product is
Product line extension. A product line extension is introducing a new productthat is similar to what the company already offers that is within an existing product line/category that is targeting an existing market by using the current brand name. This is a very common approach in marketing.
Jan 18 2019 Follow me on Instagram himanshubansal2312Follow me on Twitter himanshub23 #ProductLine and #BrandExtension are two important concepts in #MarketingPeople
Brand extension is a strategy widely used among firms with high brand equity to launch new products into the market. This strategy has been the subject of considerable scholarly interest over the
involves introducing a brand extension in the same product category as the core brand but at a different price point and quality level direct extension or in a product category with less connection to the basic product line indirect extension . There are two possible options in vertical extension.
Jan 17 2011 BRAND EXTENSIONS Using an existing brand name to promote a product in a different category is Brand Extension. The key difference between line and brand extension is the product category. In line extension the pdt. Category remains constant whereas in brand extensions product category is a variable. 334.
Many heritage enterprises have been struggling with severely declining brands in the digital era and are in desperate need of brand revitalization. Resolving the decline of heritage brands is not only a commercial issue but also a cultural sustainability issue because a living heritage brand can be considered an example of the preservation and even inheritance of a certain culture or history.
Dec 07 2013 Brand Extension The Brand extension is commonly used by well known brands that use their image to launch new varieties of their products in order to satisfy different needs of their current consumers as well as to gain new ones. This strategy is also implemented when a new trend is being developed in the market and
Apr 05 2020 An example of a product line extension is the Toyota Lexus brand which is a high end extension of the basic Toyota brand that targets consumers looking for bargains. Diet Coke is a product extension of Coke introduced to meet the need for a low calorie cola drink. A product line extension must promote the single idea associated with a brand s
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