A brand extension is when a company uses an existing brand to create a new product category.
Line extensions can include different colors, sizes, flavors or styles. They enable the brand to meet the changing wants and needs of its customers.
Coca-Cola line extended its brand by introducing Diet Coke.
What is brand portfolio example
A brand portfolio is the collection of smaller brands that fall under a larger, overarching ‘brand umbrella’ set by a firm, company, or conglomerate.
For instance, The Coca Cola Company’s brand portfolio encompasses brands like Sprite, Fanta, and Powerade in addition to its flagship beverage.
What is the main risk of a brand extension or a line extension
Risks of Extending a Brand First, any time a company introduces a new brand or line, the company name could become tarnished if the product proves to be an immense failure.
Consumers might feel less inclined to support the company’s new products in the future.
Is Diet Coke a brand extension or line extension
The most well-known example of a line extension was Coca-Cola’s release of Diet Coke in 1982.
It was used to target the growing weight- and calorie-conscious market.
How does Coca-Cola use brand extensions
(A good example of this would be Coca Cola introducing a soda on the market with a different flavor, CHERRY COKE, or with less calories, ZERO).
A brand extension falls outside of the original product line, using the same trademark.
What is the purpose of a product line extension
The goal of line extension is to satisfy a refined customer segment in the market.
There are two types of product line extensions: Horizontal extensions, which involve maintaining the same price and quality of a product but changing factors like color or adding ingredients to differentiate the products.
What is brand strategy example
A great example of their branding strategies is their “Think Different” campaign. They realized that their customers wanted to be great, innovative, game changers and different.
They knew that their competitors were strong and could deliver good quality products, so how can they convince their customers to choose them?
Can you give any examples of successful brand stretching
Brand stretch: a launch of a new product into a completely different and unrelated category e.g. Galaxy Creamy Hot Chocolate with Marshmallows or Robinsons Classic Fruits Sweets.
What should I consider in product line extension?
- Product Line Extension versus Brand Extension
- 5 Things to Consider for Product Line Extension
- Actively Monitor the Progress of Existing Product Lines
- Generate Customer Feedback
- Assess Competition
- Evaluate Finances and Available Resources
- Consider Product Exclusivity
Is Diet Coke a brand of extension
Coca-Cola creates its first brand extension after nearly a century of existence. Diet Coke is born – a sugar-free version of its flagship product, launching in the US in August, and created using sweeteners aspartame and saccharin.
What is brand stretching in luxury
A luxury brand is linked to a specific “universe” where it is regarded as legitimate (Ferrari makes cars), but when it ventures outside of that territory (Ferrari-branded computers) it loses its legitimacy.
A distinction is made between brand extension and brand stretching.
What are 4 types of brands
What Are 4 Types of Brands? There are numerous types of brands, but the four most common ones include corporate brands, personal brands, product brands, and service brands.
What is brand positioning give examples
Examples of Brand Positioning The company offers it products at a premium pricing but has a very high demand because of its value-based experience strategy.
Tesla’s cars are unique and different from any other car on the road.
What are the 3 types of brands?
- A corporation or company brand
- A product brand
- A personal brand
What is extension in product life cycle
An Extension Strategy is the name given to the action a business takes when it identifies a product is entering the decline stage of the Product Lifecycle.
These actions aim to extend the life of a product, by keeping the product within the maturity stage, and should improve sales.
What are types of branding?
- Personal branding
- Product branding
- Service branding
- Retail branding
- Cultural and geographic branding
- Corporate branding
- Online branding
- Offline branding
What is the importance of brand
Branding Creates Loyal Customers You don’t just want customers who recognize your brand and use your business onceyou want to create customers who continue to come back.
With good branding, you can give your brand a more human side, which your customers can relate to more than a company that’s strictly all business.
What are extension strategies
An extension strategy is a practice used to increase the market share for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline.
Extension strategies include rebranding, price discounting and seeking new markets.
What is a brand line
Brand line is a marketing term used to describe all the products sold under a single brand name.
New flavors, package sizes, nutritional content, or products containing special additives are included in this definition.
What is a line extension in pharma
A line extension is a marketing authorisation the same marketing authorisation holder, where for instance the pharmaceutical form and/or strength differs from one or more other pharmaceutical products for which the applicant already holds a marketing authorisation.
What is Tauber’s brand extension
Tauber (1988) suggests seven strategies to identify extension cases such as product with parent brand’s benefit, same product with different price or quality, etc. In his suggestion, it can be classified into two category of extension; extension of product-related association and non-product related association.
What is it called when two brands work together
Co-branding is a marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance.
Also known as a brand partnership, co-branding (or “cobranding”) encompasses several different types of branding collaborations, typically involving the brands of at least two companies.
Is Snickers ice cream a brand extension
10 Examples of Successful Brand Extensions: Shift the form: Starbucks Frappuccino, Snickers Ice Cream Bars, Black & Decker Role Play Tool Toys, Clorox Bleach Pen, Dial Hand Wash.
What are elements of a brand?
- Brand voice
- Brand identity
- Brand promise
- Brand values
- Brand targeting
- Brand positioning
What is brand line
Brand line is a marketing term used to describe all the products sold under a single brand name.
New flavors, package sizes, nutritional content, or products containing special additives are included in this definition.
More than half of all new products introduced each year are brand line extensions.
What are the disadvantages of line extension?
- Expanded line without any clear cut role leads to confused customers and confused retailers
- Brand loyalty is weakened
- Variants are copied with an intention to neutralize competition
- The relationship between the marketer and trade partners gets strained
What is a vertical brand
A vertical brand is a brand that oversees every step of their product and brand experience, from factory to consumer.
If a brand sells their product through a retailer like Macy’s or a marketplace like Amazon, it would no longer be classified as a vertical brand.
What is the difference between private brands and other brands
Private brands, also known as private label and store brands, are made and sold for a specific retailer and meant to compete with brand-name goods.
Private brands tend to be cheaper than name brand goods and provide retailers with higher margins.
What are the 5 key features of a brand?
- Brand Position
- Brand Promise
- Brand Personality
- Brand Story
- Brand Associations
What are the two basic types of brand ownership strategies
There are two basic brand-ownership strategies: manufacturer brands and private-label brands.
Sources
https://www.smartinsights.com/online-brand-strategy/brand-development/9-success-factors-good-brand-strategy/
https://www.investopedia.com/terms/p/private-brand.asp
https://blog.wiser.com/whats-the-difference-between-line-extension-and-brand-extension/
