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The company can extend its product line down-market stretch, up-market stretch, or both ways. Product line extensions are a process where companies with an established brand alter the factors of a product or products to satisfy a refined segment in the market. [1] There are two types of product line extensions, horizontal and vertical.
When a business adds a line extension to the product line and if it is of a higher quality than the current products, it is considered as trading up or an upward stretch. Alternatively, if the new added item is of lower quality compared to other existing products, it is known as trading down or a downward stretch. [ 9 ]
From the line extension to brand extension, however, there are many different types of extension such as "brand alliance", [12] co-branding [13] [14] or "brand franchise extension". [15] Tauber (1988) suggests seven strategies to identify extension cases such as product with parent brand's benefit, same product with different price or quality, etc.
Products [ edit ] Moskowitz developed Cherry Vanilla Dr Pepper when he was hired in 2004 by Cadbury Schweppes , which was hoping to expand the market for Dr. Pepper by developing a product line extension using an alternative formulation with vanilla or cherry flavors.
Product analysis; Product breakdown structure; Product bundling; Product category volume; Product change notification; Product churning; Product cost management; Product differentiation; Product information management; Product life-cycle management (marketing) Product life-cycle theory; Product line extension; Product lining; Product literature ...
Frequently, the product is no different from what else is on the market, except a brand name marking. Brand is product identity. There is a difference between brand extension and line extension. A line extension is when a current brand name is used to enter a new market segment in the existing product class, with new varieties or flavors or sizes.
A brand extension is the use of an established brand name to introduce a new product or service. [3] Luxury brands use this strategy in order to reach a larger audience that may not be exposed to these luxury brands. Consequences of brand extension activity while a company is doing poorly is seen as a trading down.
Axe (by Unilever) has a range of similar products that use the same family brand (Axe deodorants, Axe shampoos, Axe shower gels, Axe hair stylers, etc.) . Umbrella branding (also known as family branding) is a marketing practice involving the use of a single brand name for the sale of two or more related products.