The problem of brand extension, what are the brand extension strategies

Hello friends, what are the brand extension strategies that are here? Target. The brand extension strategy refers to the expansion of the scope or depth of the brand through the development of new categories, new fields or new markets on the basis of the original brand, so as to achieve the purpose of brand value-added.

Common brand extension strategies include:1Product Extension:

Expanding into new product categories under existing brands, such as Procter & Gamble's whitening toothpaste, is a brand extension in the oral care sector. 2.Category Extension:

Expand into new market areas with existing brands, such as Nestle's coffee field to cake and chocolate fields. 3.Market Extension:

Extend the existing brand to new consumer groups, such as the running shoes of Nike to life shoes and basketball shoes, so as to cover a wider range of sports people. 4.Geographical extension:

Expand into new geographic markets with existing brands, such as Coca-Cola entering the Chinese market. 5.Brand Image Extension:

The brand's image and values are extended to new product areas, such as BMW's luxury body and spring inspection extended to home furnishing, tourism and other fields. 6.Vertical Extension:

Expand your brand into product areas that are similar or similar to your original product line, such as a furniture brand launching home furnishings. 8.Extending Down:

Extend the brand to different parts of the value chain, such as electronics manufacturers entering the field of hardware accessories. The brand extension strategy needs to be comprehensively considered in terms of market research, product research and development, marketing strategy, etc., to ensure that the extended product meets the needs of consumers without affecting the original brand image and reputation.

Summary. Hello dear, the benefits of brand extension 1, save the cost of enterprises to promote new products. Because the company's original brand is already widely known, then the new product will be recognized as long as it is marked with the original brand, so that there is no need to spread the brand too much, just introduce the product to people.

So as to save a lot of promotion costs. For example, Wahaha launched a children's clothing series, Wahaha itself is a children's drink, and this brand has been deeply popularized, so when launching a children's clothing series, there is no need to spread the Wahaha brand too much.

Yes, you can't. Hello dear, the benefits of brand extension 1, save the cost of enterprises to promote new products. Because the original brand of the enterprise has been widely known, then the new product will be recognized as long as the original brand is marked, so that there is no need to spread the brand too much, and the company only needs to introduce the product to the people.

So as to save a lot of promotion costs. For example, Wahaha launched a children's clothing series, Wahaha itself is a children's drink, and this brand has deepened the hearts of the people, so when launching the children's clothing series, there is no need to spread the Wahaha brand through the Qique book.

Hello dear, the benefits of the brand Yanzi code stretch section Shoulu made an appointment with the enterprise to promote the cost of new products, so that the new product can easily enter the market and inject new vitality into the parent brand.

Brand extension refers to the introduction of new products or services for products or services that originally had a specific brand identity by extending their brand identity. There are many benefits to this strategy, but there are also some risks and challenges. Here are the pros and cons of brand extension:

Benefits: Save on marketing costs: Products or services that have established brand reputation can be promoted directly among consumers without the need to invest heavily in brand promotion.

In the case of brand extension, consumers are more receptive to a new product or service because they already know and trust the brand.

Expand market share: Through brand extension, enterprises can further develop in new markets and increase sales and market share. Increase brand value:

Through brand extension, enterprises can expand their brand influence, improve the value of the brand and know the degree of knowledge. Risk: Brand dilution:

Brand extension may lead to a decrease in the value and brand recognition of the original brand. Quality issues: Brand extension can lead to the launch of low-quality new products or services, which can damage the brand's reputation.

Consumer confusion: Brand extension can lead to confusion among consumers about different products or services, making them unable to understand the actual value of the product or service. Cost Issues:

Brand extension requires a lot of R&D and marketing costs, and these costs may lead to the failure of brand extension and inability to invest. Overall, brand extension can bring many benefits to a business, but it must be used with caution and assess the risks to ensure that the new product or service does not negatively impact the brand image.

Summary. Hello dear! The following answers to your question of "what is the essence of brand extension":

The essence of kissing, the key to brand extension is to change the object of brand communication. Brand extension is to re-establish the communication object of the brand, that is, to lock in the new target consumer from the new and reposition, of course, to achieve a cognitive purpose by communicating with the target consumer. From the perspective of the market, the essence of brand extension is market expansion.

The purpose of brand extension is to develop the untapped market, or enter new areas, and better expand the scale and market of the enterprise.

Hello dear! To the question you asked [what is the essence of brand extension], do the following answers: kiss, the essence of brand extension is the change of brand communication objects.

Brand extension is to re-establish the communication object of the brand, that is, to lock in the new target consumer from the new and reposition, of course, to achieve a cognitive purpose by communicating with the target consumer. From the perspective of the market's vertical filial piety, the essence of brand extension is market expansion. The purpose of brand extension is to develop the untapped market, or enter new areas, and better prudently expand the scale and market of the enterprise.

In fact, brand extension is not so simple, and some well-known enterprises at home and abroad are also very cautious in brand extension, because many companies have also failed or even lost their brands in this regard. For brand extension is not a matter of taking things for granted, enterprises must recognize what the essence of brand extension is in brand extension, and it is very clear that the brand can be extended successfully, not only in how much economic strength the enterprise has, but also to truly understand the connotation and essence of brand extension.

The key factors of brand extension include the core value of the brand, the relevance of new and old products, and the purpose of the enterprise to develop new products.

1. The core value of the brand.

The most common discourse on brand extension is the "correlation theory", that is, products with similar categories and high correlation can share the same brand, such as the success of Wahaha and Nestle's brand extension, which can be explained from the perspective that the products under the brand are all food and beverages with a high degree of relevance. In fact, a high degree of relevance is just a symptom, and a high degree of relevance leads consumers to recognize the same brand for the same or similar reasons.

2. The relevance of new and old products.

Products with a high degree of linkage and similar categories can share the same brand. High relevance is only the appearance, and high relevance leads consumers to recognize and buy a certain brand for the same or similar reasons, which can be said to be a consideration derived from the core value of the brand.

3. The purpose of developing new products for enterprises.

If the purpose of the company's development of new products is only to give full play to the market power of successful brands, hitchhikers to sell a little. Then, even if it does not meet some basic principles of brand extension, it can be extended. However, when operating, the new product should be advertised as little as possible so as not to destroy the original personality of the brand.

The competitive landscape also has a strong impact on brand extension decisions. The market competition for extended products is not fierce, and there is no strong professional brand, so you can boldly extend the brand, and vice versa.

The key factors of brand extension include similarity, brand connotation, product risk, and user innovation.

Brand extension is to expand a successful brand from the initial category to other new products. The practice of brand extension has its wide "market", and people have various reasons: brand confidence, give full play to brand value, save promotion costs, and be more acceptable to merchants.

Brand extension is fundamentally possible because of the elasticity of the brand. This elasticity is considered from the perspective of mental cognition, that is, a tolerance in the customer's mind for the extended use of a brand between categories.

Brand extension is a powerful means for enterprises to launch new products, quickly occupy and expand the market, and is the full exploration and strategic use of brand intangible assets by enterprises, so it is a realistic choice for many enterprises.

Corporate brand extension strategy approach

1. Brand extension based on joint consumption, that is, the extension of the three interests (functional, emotional, and spiritual) of the brand jointly used with the parent brand to strengthen it.

2. Brand extension based on alternate consumption, that is, providing the same benefits as the parent brand, but the extension of the product used in different contexts can strengthen the functional, emotional and spiritual benefits of the brand.

3. Based on the substitution of brand extension, that is, to replace the original product, as an extension of the backup option when the technology is eliminated, usually occurs in the market of the base year, and the new solution is used to avoid the risk of the original product being eliminated.

4. Feature-based brand extension, that is, the extension of a distinctive feature of a shared product, can strengthen the characteristics of key products.

The key factors of brand extension include: similarity, brand connotation, product risk, and users' tendency to create new ideas.

Brand extensions are the practice of using an existing brand name to enter a new product category and launch a new product. Brand extension can enable enterprises to launch new products at a lower cost, so it has become the main means for enterprises to launch new products. Brand extension is not simply a borrowing of a brand name that already exists on the surface, but rather a strategic use of the entire brand equity.

The brand extension strategy can enable new products to successfully enter the market with the help of the market reputation of successful brands and save money.

Brand extension is an important aspect of brand strategy. For a certain brand with customer loyalty, how can the brand remain attractive forever, so that it can be favored by customers and highly loyal for a long time? The answer is:

We should continue to pursue brand extension and accurately grasp and apply brand extension strategies.

Brand extension strategy is a strategy to apply existing successful brands to new products or modified products; In addition, the brand extension strategy also includes the extension of the product line, that is, the existing brand name is used on new products in the same category, so as to launch products with the best style, new flavor, new color, new formula and new packaging.