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An example of a brand extension is Jello-gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product category. In the 1990s, 81 percent of new products used brand extension to introduce new brands and to create sales. [1]
Brand extension is the system of employing a current brand name to enter a different product class. Having a strong brand equity allows for brand extension; for example, many fashion and designer companies extended brands into fragrances, shoes and accessories, home textile, home decor, luggage, (sun-) glasses, furniture, hotels, etc ...
Occasionally a brand can become so successful that the brand becomes synonymous with the category. For example, British people often talk about "Hoovering the house" when they actually mean "vacuuming the house." (Hoover is a brand name). When this happens, the brand name is said to have "gone generic." [30] Examples of brands becoming generic ...
Line extensions occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes. This is as opposed to brand extension which is a new product in a totally different product category. Line extension occurs when the company lengthens its ...
For example, variables such as brand image, brand personality, brand attitude, brand preference are nodes within a network that describes the sources of brand-self congruity. In another example, the variables brand recognition and brand recall form a linked network that describes the consumer's brand awareness or brand knowledge. [43]
The following article lists the most valuable corporate brands in the world according to different estimates by Kantar Group, Interbrand, Brand Finance and Forbes.Factors that influence brand value are sales, market share, market capitalization, awareness of a brand, products, popularity, image, etc. Readers should note that lists like this, while informative, are somewhat subjective, as no ...
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Multiple brands may divide the market and split efforts within one company; [6] Risk of undesired market cannibalism; Brand creation incurs a high cost in marketing, advertising and sales promotion; [7] Launching new products as their own brand is higher risk: new brands lack acknowledgement and customer loyalty and need to find recognition. [8]