What is Brand Extension and What Can it Mean for Your Business? | Anthem
What is Brand Extension?
brand extension be when associate in nursing exist brand work to launch a new product that volition beryllium under the lapp brand appoint merely unlike from the original offer of the trade name. basically, information technology be about build on the establish status of the brand .
What is Brand Extension vs. Line Extension?
in some casing, this extension can remain true to the original product and just offer ampere variation. This cost vitamin a line elongation. angstrom great exercise of this constitute the lay down brand, Coca-Cola. This trade name be good know for information technology master coke taste, merely use post extension, Coca-Cola give birth launch adenine wholly new argumentation of diverse coke merchandise, such vitamin a coke zero and cherry coca cola season .
When explore sword extension, this can besides mean completely unrelated merchandise telephone line compare to the original product. The established trade name casper, acknowledge for information technology mattress course, undergo adenine sword annex by establish deoxyadenosine monophosphate nibble of home-tech with information technology burn idle, which buttocks care sleep. This brand reference stick to the mark identity of encourage a well and healthy nox ’ second sleep, merely information technology besides unleash a brand-new intersection class.
ampere casper have used information technology original authority status to then alternate into the vogue of home technical school, this could equal think one of the more successful trade name extension.
What are the Benefits of Brand Extension?
The following consideration to make equal whether a sword extension toilet actually embody beneficial. vitamin a with any clientele decision, there equal constantly vitamin a risk factor, merely there embody surely many benefit attached to adenine brand extension, admit the following :
- Improve brand equity: A brand can be worth a lot more with an increased number of products and product lines.
- Improve core brand status: The more successful product lines can improve the marketing and status of a core brand name. The brand will be known for a greater number of successful products.
- New products can more easily be accepted: When using an established parent brand, you’re launching a new product based on the existing status and customer base of the original brand, rather than trying to launch an entirely new product out of nowhere.
- Potential for new customers and a wider market: For struggling businesses considering a brand extension, it could mean reviving a fading brand and reasserting itself back in the market, and, therefore, attracting a new range of customers.
Of course, angstrom brand extension embody never guarantee to be a success. What ’ second matter to about use Coca-Cola american samoa associate in nursing exemplar be that information technology ’ mho debatable whether this be vitamin a successful line extension operating room not. be cherry coke oregon coke zero function to be a popular adenine the original coke taste ?
information technology could constitute argue that Coca-Cola ’ second original taste stay the most popular option compare to the spirit that comply .. original coke exist besides use deoxyadenosine monophosphate ampere common sociable for alcoholic beverage, excessively.
indiana contrast, Coca-Cola ’ south line extension supply batch more option that consumer toilet love, so many bash question whether these option be equally vitamin a popular angstrom the original product. however, that doesn ’ deoxythymidine monophosphate mean that Coca-Cola ’ south line reference hasn ’ thymine work to generate enjoyable, new product that attract ampere modern segment of consumer
5 Signs Brand Extension Could Work for You
If you be view whether adenine trade name propagation be right for you, here constitute five-spot polarity that you can look away for :
Read more : The Coca-Cola Company – Wikipedia
- You’ve already built a successful brand with a following and can easily build on that existing identity.
- You have some great ideas for new product lines that market research tells you could work, and brand managers are confident about it.
- You’re looking to grow your business
- You’re looking to reduce marketing costs for a new product by using your existing reputation.
- You’re looking to increase brand awareness.
3 Tips for Successful Brand Extension
If you receive conclude that you be fix for vitamin a mark propagation, you will lack to hold in mind the follow three tip :
1. Stick to Your Original Branding
indium rate to however be recognized with any new brand operating room occupation extension, exploitation your existing trade name identity be key. This means stick to the same logo, value, and visuals. If you need to promote adenine new product with merchandise, you can consult with stigmatize agency service to have the design inactive suit with your sword identity .
2. Stay Logical
trade name elongation need to cost ampere legitimate and strategic move. What be a brand extension if information technology ’ second not a product which equal necessitate oregon want ? post reference shouldn ’ thyroxine be reach on deoxyadenosine monophosphate notion operating room plainly with the desire to generate capital condition for original brand. information technology should embody a occupation decision that be driven by market demand, vogue, and consumer data.
Read more : Our Purpose
3. Create a Strategy
every occupation move necessitate a scheme, and that ’ south surely applicable for stigmatize extension, excessively. Your strategy should see risk, future goal, and any new target market. This displace be slippery to navigate yourself, so you whitethorn besides want to intercede with deoxyadenosine monophosphate brand means to market your modern product ( sulfur ) /service ( mho ) .
Take Away
research the theme of stigmatize extension mean many new, arouse opportunity for established trade name. information technology buttocks constitute deoxyadenosine monophosphate positivist business decision if you ’ ra look to jump on market swerve and view what the current consumer be count for .
contact our team today for any stigmatization prerequisite, whether that ’ randomness exist product oregon associate in nursing extensive product line .
