Podcast
Questions and Answers
What is necessary for a brand extension to be successful?
What is necessary for a brand extension to be successful?
- Association between the original product and the new item (correct)
- Low price point
- High-quality product packaging
- Strong marketing campaign
What is the opposite effect of a successful brand extension?
What is the opposite effect of a successful brand extension?
- Brand dilution (correct)
- Brand fragmentation
- Brand amplification
- Brand saturation
What happens when there is a weak or nonexistent association between the original product and the new item?
What happens when there is a weak or nonexistent association between the original product and the new item?
- Brand dilution occurs (correct)
- Brand extension is unsuccessful
- Brand remains the same
- Brand extension is successful
Why is it important to have a logical association between the original product and the new item?
Why is it important to have a logical association between the original product and the new item?
What is the result of a brand extension with a weak or nonexistent association?
What is the result of a brand extension with a weak or nonexistent association?
What is a requirement for brand extension to work?
What is a requirement for brand extension to work?
What do consumers do when they identify a common quality or characteristic between the original and new products?
What do consumers do when they identify a common quality or characteristic between the original and new products?
What is the primary goal of brand extension?
What is the primary goal of brand extension?
What happens when the original and new products do not share a common quality or characteristic?
What happens when the original and new products do not share a common quality or characteristic?
What is a brand extension in marketing?
What is a brand extension in marketing?
Why is brand extension a common strategy used by companies?
Why is brand extension a common strategy used by companies?
What is the purpose of a line extension?
What is the purpose of a line extension?
What is category extension in marketing?
What is category extension in marketing?
What is the topic of discussion?
What is the topic of discussion?
Which publishing company is associated with this content?
Which publishing company is associated with this content?
Why do companies use brand extension strategies?
Why do companies use brand extension strategies?
What is the benefit of using an established brand name to introduce a new product?
What is the benefit of using an established brand name to introduce a new product?
In what year was this content copyrighted?
In what year was this content copyrighted?
What is the name of the brand publishing this content?
What is the name of the brand publishing this content?
What symbol denotes the copyrighted material in this content?
What symbol denotes the copyrighted material in this content?
What is the first step in evaluating brand extension opportunities?
What is the first step in evaluating brand extension opportunities?
What is the main objective of evaluating extension success?
What is the main objective of evaluating extension success?
Why is it necessary to identify possible extension candidates?
Why is it necessary to identify possible extension candidates?
What comes after defining actual and desired consumer knowledge about the brand?
What comes after defining actual and desired consumer knowledge about the brand?
What is the final step in the brand extension process?
What is the final step in the brand extension process?
Study Notes
Brand Extensions
- A brand extension occurs when a firm uses an established brand name to introduce a new product.
- There are two types of brand extensions:
- Line extension: adds a different variety, form, size, or application to the brand.
- Category extension: applies the parent brand to enter a different product category.
Success Factors for Brand Extensions
- For a brand extension to be successful, there must be a logical association between the original product and the new item.
- The original and new products should share a common quality or characteristic that the consumer can immediately identify.
Disadvantages of Brand Extensions
- A weak or nonexistent association between the original and new products can result in brand dilution.
Evaluating Brand Extension Opportunities
- Define actual and desired consumer knowledge about the brand.
- Identify possible extension candidates.
- Evaluate the potential of the extension candidate.
- Design marketing programs to launch the extension.
- Evaluate the extension's success and its effects on parent brand equity.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Learn about brand extension, line extension, and category extension in marketing. Understand how firms use established brand names to introduce new products and enter different product categories.
