Brand Extension Success Factors

But for new customers, the new brand extensions will be essential to be able to offer a competitive product offering that will attract them to the brand. Therefore, we can avoid conflict between both segments by letting them choose the products they want depending in their needs.

The brand image is the brand's total personality impression in the consumer’s mind (real and imaginary qualities and shortcomings). It is developed through advertising campaigns over time with a consistent theme. Talbot and his team conducted social media research and there objective was to: -

Brand competitors and the diversity of choice that is available to consumers, puts brands under pressure to offer high quality products and service, excellent value and a wide availability (Clifton et al., 2009). Brands must differentiate themselves from the competition and create an unforgettable impression.

In determining whether or not a brand extension will be successful, corporations and marketing strategists must attempt to build strong correlations between the existing brand and/or product line. A strong pairing or high-fit brand extension immediately associates a new line or extension with currently held views of consumers. The more dissimilar a new product

It has been acknowledge (Romaniuk & Sharp 2004) that Brand salience can be defined as the propensity of the brand to be thought of by buyers when they are in a buying situations. A brand awareness strategy depends on how well known the brand is, Brand Salience is forming image to refresh their memory about the brands that can linked to consumer mind as well as the quantity and quality of the cue to brand links (Olson & Peter 2005), it is very important that consumer can connect to their mind as many cues as possible . The level of consumers’ brand awareness necessary to induce purchase varies depending on how and where they make their purchase decision for that product category or form. The brand attitude is focus on evaluating the brand, according to Schiffman and Kanuk (2007) “attitudes are relevant to purchase behavior are formed as a result of direct experience with the product, word-of-mouth information acquired from others, or exposure to mass-media advertising, the internet, and various forms of direct marketing”

The reason companies start to co-operate is due to technological and psychological changes of the business environment. There are two reasons why this occurs (Uggla, 2000): First, technology and new distribution patterns open up new possibilities for cooperation where brand extension and brand alliances become more interesting from a strategic point of view. Second, consumers look for risk reduction, and brand extension and brand alliances might be the right strategies to reduce consumer risk. Strategies to meet the demands of a changing world are co-branding and ingredient branding.

Brand personality allows the consumer to develop a meaningful attachment to the product. People do not develop meaningful, long lasting relationships with the thing itself, it is when the consumer is able see the product with a certain persona, with

Michael et Augustin has to depend on the quality of their product in order to get in to the market. Among the bigger players in the market, there’s less differentiation, but since the large players have much more resources comparatively, this situation creates a high entrance barrier for the company. In A Better Way to Map Brand Strategy (2015), Niraj Dawar and Charan K. Bagga talk about the centrality-distinctiveness map (Figure 1). Centrality is the recognition and strength of the brand, whereas distinctiveness is the premium qualities of the brands that are resembled upon the customers. There are four different types of brands according to the article, and they are presented in Figure 1 in a 2x2 matrix: unconventional, aspirational, peripheral, mainstream. For Michael et Augustin, centrality is a long shot target due to the established market. However, distinctiveness can be achievable. Therefore, the company has to pursue a strategy to create an unconventional brand, and then transition into the aspirational part.

This amazing photo captures a women before starting her chemotherapy treatment and after.The first thing that captures me is her smile and the light in her eyes, her face is full of life. For her and the world it seems like the only thing she lost in the both pictures is her hair, but truthfully she lost everything. That amazing smile, showing true happiness,her whole face is smiling , its a genuine smile that shows that she’s ready to face anything. Even though she looks like she’s in her 50’s, her face is full of youth and life, but in the after picture, its like she aged years, other than just few weeks between both photos.The way her eyes crinkle with her smile in the before picture, the perfectly groomed and styled short hair, which shows

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

Brand extension refers to marketing strategy in which same name of a brand is used in a different product category. In short it is similar to brand stretching. Brand extension helps in evaluating opportunities related top product category, it identifies resource need and it helps organization to increase brand equity. brand extension is successful when customers value and goals match with that of core business and when these goals and value are personified in a brand then the brand is more acceptable by the customers in a business. brand extension is done for some purpose like for growth and development, trend in industry ,Economic Benefits and also for creating competition.

However, the marketer should be wise enough to ensure that the brand extension strategy is not

In recent times, branding has played a pivotal role in some brands’ success. This has been made possible through the ability of some marketers to capture the essence and minds of people (consumers), and put the trends and characteristics into the personality of a brand. Customers have always found ways to identify themselves with certain products, and on several occasions, branding campaigns

Brand extension can be either when a brand is extended into the same product category or into a new product category. Aaker and Keller (1990) describe this co-branding strategy as when a new product or service uses an existing brand name that had been associated with it before the extension. The strategy is that the brand equity and brand image of the brands used to create what is called the extension, transfers to the extension (Hadjicharailambous, 2013). This brand image quality of the existing or parent brands, and the perceived brand fit that are the main factors that influence the success of the extension (Meyvis, Goldsmith, & Dhar,

Brand Extension, basically, is a peculiar strategy related to the Brand management. There are various factors that tend to affect the brand extension process. These may include Parent Brand experience and awareness, brand image, perceived extension fit, perceived Quality, perceived performance and similarity of the products. Moreover, the parent brand loyalty, equity and personality also play a huge part in the brand extension process (R. Priyadharsini et al, 2013).