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Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category. The new product is called a spin-off .
Firstly an accounting definition suggests that brand equity is a measure of the financial value of a brand and attempts to measure the net additional inflows as a result of the brand or the value of the intangible asset of the brand. [48] A different definition comes from marketing where brand equity is treated as a measure of the strength of ...
A product line extension is the procedure of entering a new market segment in its product class by means of using a current brand name. An example of this is the Campbell Soup Company, primarily a producer of canned soups. They utilize a multiproduct branding strategy by way of soup line extensions.
The brand can also benefit from an increase in exposure through this competitive process. [2] Brand image is a big contributing factor when it comes to product line extension. Within downward extension it can make the brand seem less luxurious, cheap, basic, and inconsistent.
Many luxury brands maintain their reputation through brand extension. 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 ...
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The new 12-team College Football Playoff is about to begin, and the journey to crown the national champion starts now.
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