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Brand Extension Types of Brand Extension Needs of Brand Extension Advantages Disadvantages
Introduction
BRAND Brand is a name, term, sign, symbol, design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
A BRAND is symbolic embodiment of all the information connected to a Company, Product or Service.
Brand Extension
A Brand Extension occurs when a firm uses an established brand name to introduce a new product. When a new brand is combined with an existing brand, the brand extension can also be called a sub-brand. An existing brand that gives birth to a brand extension is the parent brand. If the parent brand is already associated with multiple products through brand extensions, then it may also be called a family brand.
Parachute Shampoo
Parachute Cream
*hypothetical
Cartier Jewellery
Cartier Watches
Cartier Purses
Cartier Pens
Brand Extension
Extension or stretching is marketing strategy in which a firm, marketing its brand with well-developed image, uses the same brand name in a expanding it scope of activities.
In 1970, Rickard Branson founded Virgin as a mail order record retailer, and not long after he opened a record shop in Oxford Street, London.
Brand Existing
Category
Association
New Category
Brand Hierarchy
A means of summarizing the branding strategy by displaying the number and nature of common and distinctive brand elements across the firms products, revealing the explicit ordering of brand elements A useful means of graphically portraying a firms branding strategy
Product brand - exclusive name to single product (Tide, Dash, Ariel) Line brand - same concept across different products (VW) Range brands - one name on group of products having same ability (Green Giant) Umbrella brand - supports products in different markets (Canon cameras, copiers, office equip Source brand - products directly named (Park Avenue) Endorsing brand - wide diversity of products under product, line brands or range brands (GM)
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