Introduction:
A brand extension is understood to be using the current brand name for another product to enter in a market, brand extension can be described as new product development strategies that can reduce financial risk by using the name of the brand which already existing to enhance the confidence of the consumer. Example connected with brand extensions are Coca Cola, Pepsi, Nestle, P& G, Uniliver, Fine and etc. Successful brand extensions count on consumers perceived fit, Innovation, concept and Consistency, perceived quality, brand familiarity. For many years researchers tried to find the major factor that affects the brand extension of the firms and how it does affect the business. It is studied that brand extensions can result in
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The Role of Corporate Image and Extension Similarity in Service Brand Extension. Maastricht Academic Center for research in Services.
Neale, Larry and Baazeem, Thamer and Bougoure, Ursula.(2009).The effect of brand extensions on parent-brand relationship quality. In: Proceedings of Australian and New Zealand Marketing Academy Conference 2009, 30 November - 2 December 2009, Monash University, Melbourne, Victoria.
Literature review:
1. Neale ET. Al (2009) the research reveals there can be a negative effect also of using the parent brand name. This can result under different circumstances which can be that product company launched under a parent brand name didn’t do well and result in bad image of the brand . A part from that if image of the brand is not well in the brand then launching a product under that brand name might negatively affect the brand. To evaluate the finding questionnaire were distributed to both male and female and questionnaire has a likert scale from 1 to 7 which was from strongly disagree to strongly agree. 253 respondent answers the questionnaire and it was found out that if brand has a good image in the market then a product which didn’t do well in market will not entirely affect the image of the
“Think Different” This is the slogan for Apple, Inc. This logo was in 1977 by advertising agency TBWA based in Los Angeles. RSPCA: RSPCA has an eye-catching logo and distinctive name.
The more brand awareness that we can generate will lead to more opportunities to create sales and
When an entrepreneur is associated with the brand or the brand name is under the professional names its called personal branding. Personal branding is good as the values of a professional is linked with the brand and represents The Bodyshop after an impactful success faced certain challenges and negative public propaganda, which led the CEO of the company to restructure the policies and cater the issues first. The company was under economical and financial pressure in the 1990’s which forced them to take restrictive measures and face tremendous loss. Table 1 shows the turnover and profit over the years; it established till it started reviving in 2005.
In the article “The Behavioral Effects of Negative Product Placements in Movies” Ignacio, R. is intending to prove that brand placements do influence the consumer behavior. His study encounters the placement of the product and the role of previous brand evaluation in movies on exploring their effects on the consumer response. The main purpose of this study is to evaluate the role of past brand evaluation and the placement of the product in movies on the consumer judgment stage, and to provide information on what scenes does it play an effective role on the consumer emotion and behavior and to explore the consumer’s responses regarding the placement of the product in films. The findings of the study indicate that the placement of product in movie scenes result in positive emotional responses from
Please respond to the following: "Brand Portfolio Molecule and Brand Report Card" Based on your review of the Learnscape scenario titled “Learnscape 3: Recover and Retention”, explain the fundamental reasons why brands do not exist in isolation but do exist in larger environments that include other brands. Provide two (2) specific recommendations or solutions that help the health care facility in this scenario improve patient satisfaction. Brands do not exist in isolation but do exist in a larger environments which includes other brands, because brands are highly interdependent and value of the brand is driven by its impact on the customer’s precipitation. The brands needs other brands in order to have meaningful comparison with other brands.
Branding plays an essential role for a product. The more consumers like the brand the higher turnover the company will have. Definitely, it will make value of the brand. With brand development firms can improve the performance of a particular product or
Sadigov Ibrahim Business Strategy FIALA Dan RAVICK Strategy Project#1 3.10.2015 Introduction Harley Davidson is one of two main motorcycles producers in US and the company is the world’s 5th largest motorcycle producer. The company’s products are custom, cruiser and touring motorcycles and they also produce and sell motorcycle parts, accessories, riding gear and general merchandise. The brand extensions of company are merchandise, helmet, clothes, mugs, beer, and bars and so on.
Non-product attributes are functional benefits, experiential benefits, and symbolic benefits (Keller 1993). Excluding advertisement, word of mouth is such a powerful tactic the brand could perform to associate with consumers. With word of mouth, customers will develop brand awareness, brand knowledge, and brand image that lead to customer-based brand equity or CBBE (Keller 2003). Keller (2001) developed pyramid models of consumer-based brand equity building steps as shown in figure 2, and six brand building blocks as displayed in figure 3. Successful brand building is to create resonance that builds relationships between the brand and its customers, which generates brand loyalty, attitudinal attachment, and community engagement as the best
Strategic importance of brand extension cannot be denied because it has risks ( invitation to failures) and opportunities as well. A defective decision would lead to detrimental affiliations that may be costly to replace ( ries and trout , 1981) . The consequences of failure may not be limited to new brand but they could also effect establish brand by dilution or spoiling its image (Ambler and styles, 1997 ;Martinez and chernatony , 2009) . Depending on product market and situations corporations are using different extension method either it be horizontal or vertical brand extension . Brand extension should be based on compatibility between parent and extended brand .
Halo Effect: In the market place consumer behavior may effect because of halo effect. Halo effect is the well known term in psychology. Consumers’ choice to buy a product or making a decision to which product to buy is mostly depends on Halo effect. Consumers’ buy their products depending on their favorable experience, product brand name, product history and mostly product marketing.
The major success key of Marks & Spencer is that it offers superior quality and innovative products and services to its users with prime emphasis on innovation and design. The spread of this innovation will be influenced mainly by its attractiveness, quality, price, promotion, and durability. Research shows that customers make high involvement purchase decision for innovative products as it involves high risks. Moreover, Marks & Spencer would be being the first one to enter the market with highly innovative products will lead to its strong brand image building in the competitive global market. (Rodrigues,
Brand equity cannot be either built or destroyed in the short run but can be created only in the long run through carefully designed marketing investments which are a valuable asset to a
Brands are complex offerings that are conceived by organisations but ultimately resides in the consumers mind (De Chernatony, 2010). A brand thus signals to the customers the source of the products and services and protects both the competitor who would attempt to provide products and services that appear similar or identical (Aaker, 2004). Brands provides the basis upon which consumer can identify and bond with a product or service or group of products and services (Weilbacher, 1995). A brand is a specific uniqueness associated with a product or services that enables the consumers connect with it by easy identification through the name, slogan, design, logo, symbols, etc. of the organisation that produces the products or
Every day we copy something or at least see things that have been copied. For example you will probably have an experience of copying your classmates’ homework and you might also have seen similar products being sold by different companies. Do you remember the honey butter chip boom? As 해태 made big profits through honey butter chip companies started to use copycat marketing strategy and made products that were similar to it. In the process some companies that followed the honey butter chip made big profits while others had economic deficit.
How the “Happy Socks” brand is trying to evoke desire to consumers through their philosophy, campaigns, and advertisements Brand attachment has been linked with the experience of positive emotions, and positive social contact. In fact, feelings of comfort, happiness, and security reflect the object of attachment (Park et al., 2010; Thomson et al., 2005), while consumers tend to attach to a brand, as a result of the increased feeling of defining, and in the vast majority of cases, maintaining their sense of self, in the terms that they are becoming a part of an appreciated “brand community” and at the same time, they are fulfilling the need to belong (Kim, Lee, & Ulgado, 2005; Schifferstein, & Zwartkruis-Pelgrim, 2008). Desire, conflict and