A line extension is when you add new flavors, colors, ingredients, shapes, or package sizes to your food or beverage brand.
Despite altering the product in some way, on the store shelf your new products would still appear side by side in the same category.
What makes a brand successful
Have a distinctive personality that is appropriate for your target audience. Be consistent in its messaging and design, reinforcing the position, promise and personality at each touch point.
Demonstrate the value that your company provides for the customer, and how that value is created.
Is Coca Cola a line extension
In some cases, this extension can remain true to the original product and simply offers a variation.
This is a line extension. A great example of this is the established brand, Coca-Cola.
What are the branding techniques?
- Personalized branding method
- Co-branding method
- Insider branding method
- Identification branding method
- Product branding method
What are the three forms 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 is the difference between product line expansion and product line extension
Product line extension (also known as expansion) involves a business adding a new product to one of its pre-existing product lines.
What is a brand key
Brand Keys is a brand research consultancy specializing in predictive consumer behavioral brand equity, loyalty, and engagement metrics.
Why is extension strategy important
Developing new products is expensive and takes time, so businesses will usually try to extend the life cycle of a product and prevent it from going into decline.
To do this, they need to find ways of keeping people interested in the product for longer, thereby increasing the number of sales.
What is the best branding strategy?
- Target audience knowledge
- Strong unique value proposition
- Passion is observable
- Out-of-the-box thinking
- Consistency
- The brand’s objective comes first
- Exceptional brand slogans (or taglines)
- The brand always provides value
What are the 4 branding strategies?
- Product/range extension
- Brand extension
- Co-branding
- Brand licencing
What is brand imagery
What Is Brand Imagery? Brand imagery is the visual representation of your brand’s core messaging.
It’s the result of all the elements that consumers associate with your brand. These can be communicated in various forms, such as simple visuals, an experience, a feeling, or a taste.
What is brand elimination
An opening foundational study established that consumers view the elimination of a weak brand—defined as lacking both in image and profitability—as good for a company.
“Consumers reason that getting rid of a losing brand will free up resources, and potentially help the firm become stronger,” Jain said.
What is a flanker brand example
What is a flanker brand? Definition of Flanker Brand: It is a product of the same category as another product but is a variant.
A simple example would be adding vegetable crackers to a line of crackers that already included flavors of cheese, bacon, and chicken.
What is brand dilution
the weakening of the power of a brand which may occur when a company has too many brands and spreads its resources too thinly in trying to support them all.
How do you create a brand partnership?
- 1) Pick the right brand
- 2) Work out what you want
- 3) Approach the right person
- 4) Be clear on each others’ objectives
- 5) Evaluate the campaign’s success
How do I search for a brand on Amazon
Go to https://Amazon.com in your browser, and you’ll be good to go. Enter the brand name or seller name into Amazon’s search box, which can be found at the top of the page.
Finally, click the magnifying glass-shaped search button in the upper-right corner of the page.
What is a good branding strategy
Target audience knowledge To be more exact, great brands understand who their potential customers are, how they think, what they need, and very importantly, where they spend their time at.
In order to market your products and services well, your brand strategy should be strictly aimed towards your target audience only.
What is meant by brand equity
Brand equity is a marketing term that describes a brand’s value. That value is determined by consumer perception of and experiences with the brand.
If people think highly of a brand, it has positive brand equity.
What is line extension trap
If you follow the prevailing logic of most modern companies, you will inevitably fall into this trap.
Line extension is using an existing brand name or image and extending it to new products.
Sounds like a good idea, right? Why not use the equity of your known brand to draw attention to a new product?
What is brand re positioning
What is brand repositioning? When a company changes the status of a brand in the marketplace but maintains its identity at the same time, it is called “brand repositioning”.
As part of this process, changes are typically made to the marketing strategy such as product, price, place, or promotion.
What is the brand portfolio of Coca-Cola as a brand
Our diverse portfolio is built on our core brands like Coca-Cola, Coca-Cola Light, Coca-Cola Zero Sugar, Fanta, Sprite and Monster and targeted expansion into categories like coffee and alcohol.
What is horizontal line extension
Horizontal extension refers to instances when an existing brand name is applied to. a new product, in either the same product class (line extension) or in a new product. class/category (franchise/brand extension), with the same price positioning or quality.
What is Multiple branding
The multi-branding strategy refers to the company’s approach to introducing different brands or products within the same market segment under a different or same company name.
For instance, Facebook owns Instagram and WhatsUp which are both mobile applications but don’t have the name mentioned in the brand’s title.
What is process line extension
Line extensions refers to the process of expanding an existing product line. This is when a company with an established brand introduces additional items in a product category.
The company uses the value of the existing product to market and introduce new choices to consumers.
Why brand strategy is important
Eye-catching, meaningful, and memorable brand elements foster greater recognition and connection among customers. Over time, this relationship develops into one of trust.
Branding strategy is the catalyst by which customers understand, purchase, and eventually come to rely on a particular company or product.
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 the law of line extension
The Law of Line Extension says that it is a mistake to take the name of one product and apply it to another.
Companies do this often, but it basically never works. We think that the power of the brand will help sell the new product.
Instead, the brand itself is tarnished.
Why is category extension important
Brand extensions can also benefit the parent brand by creating a greater sense of loyalty, reaffirming the brand promise and consumer perceptions of the brand, and sustaining the parent brand’s relevance in its existing category.
Extensions can also help to establish a brand’s position in new categories.
What is product line with example
A product line refers to a particular good or service that a company makes and markets to customers.
A food company may extend a product line by adding various similar or related products (e.g., adding mesquite BBQ flavor to its existing potato chips line), and create a more diversified product family.
Are also known as flanker brands
In marketing, a fighter brand (sometimes called a fighting brand or a flanker brand) is a lower-priced offering launched by a company to take on, and ideally take out, specific competitors that are attempting to under-price them.
Citations
https://www.linkedin.com/pulse/20140122142620-3458678-the-no-1-reason-why-brand-extensions-fail
https://www.prophet.com/2012/04/83-ten-routes-to-a-successful-brand-extension/
https://www.beckfoot.org/seecmsfile/?id=3203
https://quizlet.com/435437876/chapter-11-case-studies-marketing-021-ybarra-flash-cards/
https://www.forbes.com/sites/forbesagencycouncil/2021/03/24/the-importance-of-branding-in-business/
