Published Writing Solving a Latent Need: We discover these problems through research and living in customers shoes as much as possible. In baseball terminology, these are singles, doubles, and triples. Before the advent of e-mail, few people or companies considered written communication to be inefficient or a problem.
This new category to which the brand is extended can be related or unrelated to the existing product categories. But it is now extended to sunglasses, soccer balls, basketballs, and golf equipments.
An existing brand that gives rise to a brand extension is referred to as parent brand. Brand extension may be successful or unsuccessful. Instances where brand extension has been a success are- Wipro which was originally into computers has extended into shampoo, powder, and soap.
Mars is no longer a famous bar only, but an ice-cream, chocolate drink and a slab of chocolate. Instances where brand extension has been a failure are- In case of new Coke, Coca Cola has forgotten what the core brand was meant to stand for. It thought that taste was the only factor that consumer cared about.
The time and money spent on research on new Coca Cola could not evaluate the deep emotional attachment to the original Coca- Cola. Oranjolt was a fruit drink in which carbonates were used as preservative. Oranjolt need to be refrigerated and it also faced quality problems.
It has a shelf life of three-four weeks, while other soft- drinks assured life of five months. Advantages of Brand Extension Brand Extension has following advantages: It makes acceptance of new product easy. It increases brand image.
The risk perceived by the customers reduces.
The likelihood of gaining distribution and trial increases. An established brand name increases consumer interest and willingness to try new product having the established brand name. The efficiency of promotional expenditure increases.
Advertising, selling and promotional costs are reduced. There are economies of scale as advertising for core brand and its extension reinforces each other.
Cost of developing new brand is saved. Consumers can now seek for a variety.
There are packaging and labeling efficiencies. The expense of introductory and follow up marketing programs is reduced. There are feedback benefits to the parent brand and the organization. The image of parent brand is enhanced. It revives the brand.Trading up consists of adding the high-price-prestige products in its existing product line.
The new product is intended to strengthen the prestige and goodwill of the company. New prestigious product increases popularity of company and improves image in the mind of customers.
Feb 07, · When done correctly, a brand extension can be a huge hit, with the only complaint among consumers amounting to Why didn't they do that sooner? Sometimes, though, the launch of a new product featuring a well-known brand is such a mismatch the reaction is more like What were they thinking?
Brand e. nike brand strategy: emotional branding using the story of heroism Look deep inside Nike’s brand strategy and you’ll find the classic story of the hero’s journey. But Nike puts a devious twist on their brand story by turning the customer into both the hero and the villain.
Nike Zeus was an anti-ballistic missile (ABM) system developed by the US Army during the late s and early s that was designed to destroy incoming Soviet intercontinental ballistic missile warheads before they could hit their targets.
It was designed by Bell Labs' Nike team, and was initially based on the earlier Nike Hercules . bharti good answer by truprophet, brand extension is giving existing brand name for new product like Nike for sunglasses, or coke for new diet coke etc or different dosage form like liquid, gel and tablets with same brand name in pharma companies.
Nike; Brand Extension We plan on using the same genetically engineered fabric that we do on our sports wear, to create lasting bed sets with style and more importantly comfort!
If you have ever experienced wearing our Nike workout products than you know first hand that our Dri-Fit fabric makes all .