- What is an example of brand extension?
- What are the types of brand extension?
- What is the role of brand extension?
- Is brand extension good or bad?
- How does Apple use brand extension?
- How do you create a brand extension?
- What are the four brand development strategies?
- What are 4 possible extension strategies?
- What is a family brand example?
What is an example of brand extension?
A brand extension (some times called a category extension) is when a brand is known for one type of product starts selling a different type of product.
Some example of brand extension are: Apple: from personal computers into MP3 players.
Callaway: from golf clubs into footwear, apparel and golf accessories..
What are the types of brand extension?
Types of Brand ExtensionsProduct form extension. When a brand is launched in a different form, it is line extension. … Companion product extension. … Extension of customer franchise. … Extension of company expertise. … Extension of Brand Distinction. … Extension of Brand image or Prestige. … Distinctive taste, ingredient or component Extension.
What is the role of 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. … It increases awareness of the brand name and increases profitability from offerings in more than one product category.
Is brand extension good or bad?
Brand extension in unrelated markets may lead to loss of reliability if a brand name is extended too far. An organization must research the product categories in which the established brand name will work. There is a risk that the new product may generate implications that damage the image of the core/original brand.
How does Apple use brand extension?
Apple (AAPL) is an example of a company that has a history of effectively using a brand extension strategy to propel growth. Starting with its popular Mac computers, the company has leveraged its brand to sell products in new categories, as can be seen with the iPod, the iPad, and the iPhone.
How do you create a brand extension?
To increase the probability of success, any brand should follow a few best practices.Measure Brand Equity. … Measure the potential risks. … Leverage from business core competency. … Invest in Marketing Research. … Make the brand extension a logical fit. … Create a Brand Extension Strategy.
What are the four brand development strategies?
The four brand strategies are line extension, brand extension, new brand strategy, and flanker/fight brand strategy.
What are 4 possible extension strategies?
Extension strategies include rebranding, price discounting and seeking new markets. Rebranding is the creation of a new look and feel for an established product in order to differentiate the product from its competitors.
What is a family brand example?
Family branding is a type of marketing tactic. It involves using one brand name to market multiple products. For example, a company may use one brand to market soap, lotion, hair shampoo, and nail polish. … For example, a company may sell lipstick and nail polish, giving each product line a separate marketing identity.