Brand Extensions and How They Can Benefit Your Company
Brand extensions can help your company to grow. However, they will only have a positive impact if your product is successful. Do what you can to create a product you know your customer base will love and follow it up with marketing that will appeal to your target audience. Good luck making your brand extension work for your business. http://www.liendesign.com/blog/2019/1/6/brand-extensions-and-how-they-can-benefit-your-company
Brand extensions can help your company to grow. However, they will only have a positive impact if your product is successful. Do what you can to create a product you know your customer base will love and follow it up with marketing that will appeal to your target audience. Good luck making your brand extension work for your business. http://www.liendesign.com/blog/2019/1/6/brand-extensions-and-how-they-can-benefit-your-company
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
BRAND<br />
EXTENSIONS AND<br />
HOW THEY CAN<br />
BENEFIT YOUR<br />
COMPANY
Content<br />
<strong>Br<strong>and</strong></strong> Extension<br />
<strong>Br<strong>and</strong></strong> Extension - Examples<br />
Types of <strong>Br<strong>and</strong></strong> Extension<br />
<strong>Benefit</strong>s of <strong>Br<strong>and</strong></strong> Extension<br />
Take Away
<strong>Br<strong>and</strong></strong> Extension<br />
If you own a company <strong>and</strong><br />
exp<strong>and</strong> to offer a new<br />
product, would you give that<br />
product a name that is<br />
related to the name of your<br />
business? If the answer is<br />
yes, the new product would<br />
be considered a br<strong>and</strong><br />
extension.
<strong>Br<strong>and</strong></strong> Extension -<br />
Examples<br />
There are many ways companies can use br<strong>and</strong><br />
extensions. Here are some examples:<br />
Snickers: With its creation of Snickers ice cream bars.<br />
Hershey’s: With its creation of Hershey’s chocolate milk.<br />
Febreze: With its creation of Febreze car air fresheners.
Types of <strong>Br<strong>and</strong></strong> Extension<br />
There are many ways companies can use br<strong>and</strong> extensions.<br />
Here are some examples:<br />
Line extension<br />
These are used to release a product that is a variation on an existing one.<br />
Product extension<br />
This is when a company launches an entirely new product <strong>and</strong> related to the<br />
existing products the company sells.<br />
Extension of company expertise<br />
These are extensions that occur based on the expertise of the company.<br />
Extension of customer franchise<br />
This is when the company’s product range is extended.<br />
Extension of br<strong>and</strong> distinction<br />
These are br<strong>and</strong>s that extend based on the unique benefits they offer their<br />
customers.
<strong>Benefit</strong>s of<br />
<strong>Br<strong>and</strong></strong><br />
Extension<br />
Raising br<strong>and</strong> awareness. Greater<br />
chance of success for new<br />
products that are already related<br />
to a reputable company name.<br />
New products can attract<br />
customers who will try other<br />
products the company<br />
manufactures.<br />
Cost of developing a new br<strong>and</strong>,<br />
including some web design <strong>and</strong><br />
br<strong>and</strong>ing expenses, will be<br />
avoided.<br />
Boosts image <strong>and</strong> energy for the<br />
br<strong>and</strong>.<br />
Gives the br<strong>and</strong> a leg up on its<br />
competition.
Take Away<br />
<strong>Br<strong>and</strong></strong> extensions can help your company to grow.<br />
<strong>How</strong>ever, they will only have a positive impact if your<br />
product is successful. Do what you can to create a<br />
product you know your customer base will love <strong>and</strong><br />
follow it up with marketing that will appeal to your<br />
target audience. Good luck making your br<strong>and</strong><br />
extension work for your business.
Change language