A straight product extension involves taking the company’s current product and selling it in other countries without making changes to the product.
The advantages of this strategy are that the company doesn’t need to invest in new research and development or manufacturing.
What are some examples of product extensions?
- Colgate with Hemp Seed Oil
- Coca-Cola Cinnamon
- Lux White Impress
- Honda Civic Si
- Hellmann’s Mayonaise with Olive Oil
- Mr
- Nissan Leaf
What is multi brand extension
Multi-Brand Approach A variation of the product line extension approach is to run a multiple brand strategy within the same market.
This means having more than one brand competing in the same product category. Large companies usually employ this strategy to crowd the market and gain a sizeable competitive advantage.
What do you mean by market extension
A market extension merger refers to the coming together of two companies that produce or sell the same type of product but to different markets.
The main benefit of this type of merger is to give the companies that merge a larger market reach and client base as a result of its new capacity.
What possible mistakes can a company make when pursuing a brand extension?
- Not defining your brand strategy first
- Starting with a cheap brand identity
- Failing to differentiate your brand
- Not connecting with the right audience
- Stretching your brand to far
- Not providing great brand experience
What is the difference between line extension and brand extension
Line extensions occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes.
This is as opposed to brand extension which is a new product in a totally different product category.
What is vertical brand extension
Vertical extensions: Vertical extension means introducing related brand in the same product category in either of two directions, i.e., upscale extension, where a new product with higher price and quality characteristics, than the original, is introduced; or downscale extension, where a new product with lower quality
What is horizontal brand extension
A horizontal brand extension is when a brand name is applied to a new product or service in either a related product class or in a product category completely new to the firm, for example FHM Magazine launching a credit card.
Which is an example of a line extension marketing
What is a brand line extension? A company introduces a brand line extension by using an established product’s brand name to launch a new, slightly different item in the same product category.
For example, Diet coke™ is a line extension of the parent brand Coke™.
What is Apple 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.
What is a mixed brand strategy
Mixed branding is a type of branding strategy that involves using two or more brand names to market the same product to different audiences.
Companies may determine that their brand identity doesn’t align with an audience segment that it wants to target.
What is brand extension trap
This tactic is undertaken due to the brand loyalty and brand awareness associated with an existing product.
Consumers are more likely to buy a new product that has a reputable brand name on it than buy a similar product from a competitor without a reputable brand name.
What is Nike’s brand extension
Brand Extension Examples A well-known example of a brand extension is Nike, whose core product is sports shoes.
However, the Nike brand name is also attached to products such as soccer balls, golf clothing and sunglasses, which naturally align with the brand’s core sporting goals.
What are the 4 branding strategies?
- Product/range extension
- Brand extension
- Co-branding
- Brand licencing
What is Samsung brand extension
In the case of Samsung, as the parent brand of the Samsung Galaxy smartphone, brand extension is always used in the launch of any new product.
In fact, Samsung has introduced a variety of new series for the Samsung Galaxy, including such as the S series, E series, A series, J series, and others.
What is an example of brand stretching
An example of this is the construction brand Caterpillar. Caterpillar was originally a construction and mining equipment brand, before stretching its brand into safety footwear for worksites – an entirely different category of product, but the same core construction and worksite employee audience.
What are the five main areas of branding strategy
Brand voice, brand design, brand values, brand story, and brand vibe are the key elements of a successful brand strategy.
Below, we’ll walk you through each one, describe what it is, and look at why each bolsters the experience your brand creates for new and existing customers.
How does Coca cola use brand extension
This brand is best known for its original coke taste, but using brand extension, Coca-Cola has launched a whole new line of various coke products, such as Coke Zero and Cherry Coke flavor.
When exploring brand extension, this can also mean completely unrelated product lines compared to the original product.
What means brand stretching
the process of using an existing brand name for new products or services that may not seem related: Tobacco companies are using brand stretching to get their names established in other areas.
What is the ultimate marketing strategy
The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies by understanding the needs and wants of its consumers.
What is product line extension example
A product line extension is when an existing brand launches new products in a product category they already offer products within.
For example, when a soft drink company offers a new flavor of soda.
Why do companies use product line extensions
Product line extension is a part of every company’s marketing strategy. It’s a low-risk way to meet the needs of various customer segments and can be used as a competitive weapon to increase a brand’s control over the market.
What is the main risk of a brand extension or a line extension
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.
Why is product extension important
Product line extensions increase the variety of its existing products so that the products can appeal to a wider and more diversified audience.
They also entice the current customers to make more purchases.
How do company extensions work
Extensions allow companies to route callers to various departments through a single phone number.
Dialing an extension is simple—just call the phone number, and enter the extension when prompted.
If you’re feeling overwhelmed or not sure when to enter the extension, we’re here to help!
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 are the two basic types of brand ownership strategies
There are two basic brand-ownership strategies: manufacturer brands and private-label brands.
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.
Is Diet Coke a brand of extension
1982. 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.
Does Amazon have any brand extensions
Amazon’s Latest Brand Extension Puts Groceries Straight to the Trunk of Your Car. The launch of AmazonFresh Pickup, lets customers place their grocery order online, drive to an AmazonFresh location, and have someone place the order straight into their trunk.
Citations
https://dictionary.apa.org/defender-strategy
https://sendpulse.com/support/glossary/brand-extension
http://gatrenterprise.com/GATRJournals/pdf_files/JMMR%20Vol%203(1)/2.Sudaryanto,%20Alif%20Puji%20Rahayu.pdf
https://gocardless.com/guides/posts/product-life-cycle-stages-examples/
