brand extension

(noun)

also known as brand stretching, brand extension 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

Related Terms

  • Market Share

Examples of brand extension in the following topics:

  • Brands and Brand Lines

    • Another form of brand extension is a licensed brand extension.
    • For example, Diet Coke™ is a line extension of the parent brand Coke ™.
    • Poor choices for brand extension may dilute and deteriorate the core brand and damage the brand equity.
    • Brand line extensions do present two potential main threats.
    • Diet Coke is a brand line extension of the Coca Cola Brand.
  • Consumer Awareness

    • Two components comprise brand awareness: brand recall and the consumer recognition of the brand.
    • Brand recall is the ability of consumers to remember brands with reference to the product.
    • Similarly, brand recognition is the potential of consumers to retrieve past knowledge of the brand when asked or shown an image of the brand logo.
    • Brand awareness is an essential part of brand development, helping brands stand out from competitors.
    • Effective marketing campaigns that increase brand awareness also eliminate confusion between similar brands, as well as inconsistencies that may arise in brand extensions under single brands.
  • Product Line

    • If a line of products is sold with the same brand name, this is referred to as family branding.
    • Line extensions strategies involve adding goods related to the initial product, whose purchase or use is keyed to the product.
    • For example, a computer company may provide an extensive selection of software to be used with its primary hardware.
    • Brand extension: Strong brand preference allows the company to introduce the related product under the brand umbrella.
    • Private branding: Producing and distributing a related product under the brand of a distributor or other producers.
  • Branding Strategies

    • "No brand" branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name.
    • The risk of over-extension is brand dilution, which is when the brand loses its brand associations with a market segment, product area, or quality, price, or cachet.
    • Personal branding treats persons and their careers as brands.
    • Faith branding treats religious figures and organizations as brands.
    • Tang is an individual brand that competes with Kraft's other brand (Kool-Aid).
  • Value of Branding

    • "Branding is a way to create an emotional connection with a specific audience. " - Troika, a network branding company.
    • What is the Purpose of Branding and Why Is It So Important?
    • Branding involves researching, developing, and implementing brand names, brand marks, trade characters, and trademarks.
    • Branding is crucial to the success of any tangible product.
    • Branding can also help in the development of a new product by facilitating the extension of a product line or mix, through building on the consumer's perceptions of the values and character represented by the brand name.
  • Changes in Placement

    • Placement determines the various channels used to distribute a product across different countries, taking in factors such as competition and how similar brands are being offered to the target market.
    • Consequently, brands competing in the global marketplace often conduct extensive research to accurately define the market, as well as the attributes that define the product's potential environment.
    • Regardless of its size or visibility, a global brand must adjust its country strategies to take into account placement and distribution in the marketing mix.
    • A global luxury brand would not want to be distributed via a "dollar store" in the United States.
    • Global brands attempt to place products in locations where consumers will be most receptive to their messaging.
  • Evaluating Alternatives

    • For example, if the customer involvement is high, then he or she will evaluate several brands, whereas if it's low, he or she may look at only one brand.
    • Unlike routine problem solving, extended or extensive problem solving comprises external research and the evaluation of alternatives.
    • Likewise, consumers use extensive problem solving for infrequently purchased, expensive, high-risk, or new goods or services.
    • The company also needs to check other brands of the customer's consideration set to prepare the right plan for its own brand.
    • No strong attachment exists between the buyer and the brand.
  • Branding

    • A concept brand is a brand associated with an abstract concept like breast cancer awareness or environmentalism.
    • A commodity brand is a brand associated with a commodity.
    • " is an example of a commodity brand.
    • A brand which is widely known in the marketplace acquires brand recognition.
    • This is in contrast to the brand image, a customer's mental picture of a brand.
  • Developing a Brand

    • Brands have different elements, namely brand personality (functional abilities), brand skill (its fundamental traits—e.g.
    • Chanel No 5 is seen as sexy) and brand relationships (with buyers) or brand magic.
    • The consumer perception of brands is brand knowledge: brand awareness, recognition and recall, and brand image denote how consumers perceive a brand based on quality and attitudes towards it and what stays in their memory.
    • This suggests that brand associations are anything linked in memory to a brand.
    • Pepsi brand in 10 - 50 year olds).
  • Marketing Changes Due to Involvement

    • ., some consumer packaged goods) in a category where brands are not distinctly different require that marketers provide sales and promotions as part of their marketing strategy.
    • These are usually considered highly important to consumers and require extensive information processing.
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