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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 .
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 ...
Kitchen, [clarification needed] a reasonable equilibrium between perceived prestige and price premium is critical to an effective masstige strategy. That is to say that masstige brand positioning for the consumer is to develop the brand as a premium, or reasonable level of perceived prestige yet whose price point is similar to middle-range brands as outlined in the diagram below.
Marketers may increase the chance of success for a new product launch by using a sub-brand name and a parent brand name simultaneously. In the article by Howard Pong Yuen LAM and other co-authors, they report the successful case of using two brand names—dual branding strategy—by practitioners in China for the Minute Maid Orange Pulp juice drink launch:
Brand associations refers to a set of information nodes held in memory that form a network of associations and are linked to a key variable. 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.
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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Individual branding, also called individual product branding, flanker brands or multibranding, is "a branding strategy in which products are given brand names that are newly created and generally not connected to names of existing brands offered by the company."
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