Basically, a brand extension is leveraging an existing brand to promote a product in a different category.
There are various types of brand extension such as product form, companion product, expertise, customer franchise and brand image type.
What is an example of positive and negative reinforcement
An example of positive reinforcement is: A child receives money for doing chores. Negative reinforcement is where instead of being rewarded with an item for making positive choices, and item or stimulus is removed after a specific behavior is shown.
What are the 3 types of co-branding?
- Ingredient co-branding
- Same-company co-branding
- National to local co-branding
- Joint venture or composite co-branding
- Multiple sponsor co-branding
- Example 1
- Example 2
What are target marketing strategies
A target market strategy is a business plan focused on growing sales and brand awareness within a specific group of consumers.
To do this, businesses strategize based on demographics that make up a market, which is an area or group specified for product sales.
What are some examples of positive reinforcement at work?
- Provide regular positive feedback for quality work
- Provide opportunities to present work to colleagues
- Provide opportunities to voice opinions
- Provide opportunities for advancement
- Provide flexible work assignments
- Provide inspiring guest speakers
Which two brands should collaborate?
- Cheetos and Forever 21
- Lego and Stranger Things
- McDonald’s and Burger King
- Vans and Harry Potter
- Kentucky Fried Chicken and Cheetos
- Sharpie and Nike
- Doritos and Taco Bell
- American Eagle and Lil Wayne
What are 4 categories of brand resonance
Brand loyalty, brand attachment, brand community and brand engagement are the four factors which strongly build brand resonance.
How do you build and measure brand equity?
- Awareness
- Perception
- Intention to buy
- Increased pricing leverage
- Customer loyalty
- Purchase frequency
How do you collaborate with a big brand?
- Build your portfolio
- Do your research
- Show off! Okay, not in a bragging way, but let them know how you stand apart from the others!
- Go! Push that send button!
How do you build a strong brand image?
- Know your brand’s target audience
- Identify your target audience’s needs
- Determine your brand’s value proposition
- Use your value proposition to shape your brand’s identifying features
- Plan a marketing campaign that communicates your brand values
- Stay consistent
Does Starbucks have a brand extension
Starbucks has unveiled a revamped global brand identity as part of a plan to mark its 40th year in business and expand the brand beyond coffee.
The multi-million pound refresh of the world’s largest coffee chain sees the brand’s familiar logo shift from being green and black to solely green.
What is the 1st step in brand resonance model
Step 1: Brand Identity – Who Are You? First, your goal is to create “brand salience,” or awareness – in other words, you need to make sure that your brand stands out, and that customers recognize it and are aware of it.
What are the different types of brand elements?
- Name
- Logo
- Color
- Slogan
- Image
- Shape
- Graphics
- Typography
How do we measure brand equity?
- Price premium over competition
- Local store sales
- Average transaction value
- Customer lifetime value
- Rate of sustained growth
What are the 7 brand elements?
- Purpose-driven
- Unique
- Knows its target market
- Stays on-brand at all times
- Authentic
- Thick-skinned
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 are some examples of product positioning?
- Beautycounterclean beauty
- Nikehigh quality
- Thrive Markethealthy living
What are the 6 brand building blocks
According to the model, there are six positive “brand feelings” customers can get from a product or service they use: warmth, fun, excitement, security, social approval, and self-respect.
Think carefully about the six feelings listed above.
How two companies can work together
A business merger, created using a Business Merger Agreement, is one of the most formal and permanent ways for two companies to collaborate with each other.
A merger is a legal agreement between two companies to combine and become one single company.
References
https://rockcontent.com/blog/brand-extension-examples/
https://www.forbes.com/sites/forbescoachescouncil/2021/04/15/13-straightforward-ways-to-improve-branding-strategy/
https://thefasthire.org/brand-reinforcement-and-revitalization-examples-advantages-disadvantages/
