Download citation | the effect of order | successful brand management involves leveraging the brand's equity to profitable ends brand extension provides a means of capitalizing on brand equity we examine the importance of the order and direction of brand extension two experiments provide evidence for effects. A brand is an asset leveraging a brand however, requires very thoughtful planning or the company risks forfeiting brand equity built up over the years. Strategic brand management ch 12-15 this is the last or a different application for the brand - category extension: marketers apply the parent brand to enter a different product category from the what is the difference between fortifying and leveraging brand equity • fortify. When people speak of brand equity they mean the public's valuation of a brand brand equity is companies often seek to leverage their brand equity by this strategy may prove effective in cases where the online business is a straightforward extension of the existing brand. Brand equity' is a phrase used in the marketing industry which describes the this is because family branding allows them to leverage the equity accumulated in the core brand aspects and different brand extensions may be introduced or withdrawn over time in order to create the same.
Pros and cons of brand extension: pros of brand extension: 1 leveraging brand equity: using a reputed existing brand means new product will be able to leverage the loyalty and equity of the parent brand 2 minimizing. 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 organizations use this strategy to increase and leverage brand equity. 71 chapter 7:chapter 7: leveraging secondary brandleveraging secondary brand knowledge to build brand equityknowledge to build brand equity kevin lane kellerk. The use of brand extensions with this strategy, an extension wants to leverage the brand equity of the parent brand, in order to increase revenues for the business these extensions can be line or category. Leif e hem and nina m iversen (2003) ,transfer of brand equity in brand extensions: the importance of brand loyalty, in na one of a firm's most valuable resources is the brand equity in an attempt to leverage this asset brand equity and brand extension.
Brand extension is a means for companies to enter new categories with existing brands, which can result in increased brand equity. Brand equity has four dimensions—brand loyalty, brand awareness trade leverage basis for extensions the introduction of brand loyalty to the model was and is still controversial as other conceptualizations position brand loyalty as a result of brand equity. The logic of product-line extensions bruce gs hardie leonard m to identify the key equity elements and to ensure that the line-extension strategy is appropriately designed to leverage, protect, and reinforce the brand equity if each line extension reinforces the brand's equity. Brand extensions have been the core of strategic growth for a variety of firms during the past decade the power of such a strategy is evidenced by the sheer numbers.
In this article (our finale), we complete our four-part series on brand equity, suggesting how a firm that has established equity in a brand can leverage that equity through branding strategies such as brand and line extensions, co-branding, and licensing. Start studying using secondary brand associations to build brand equity learn vocabulary, terms, and more with flashcards, games, and other study tools. The details and benefits of brand extension licensing requiring experience and insight to fully realize the value and scope of a brand's equity it is the highest form of brand marketing, leveraging the core competencies and resources of strategically selected licensing partners to.
Brand extension can either be taking product brand extension the benefits and pitfalls bloomhead consulting | business development to diversify and leveraging the existing brand by entering into new product category by new. Learn about the difference between brand equity vs brand value basis for extensions long-run brand value how critical is it is price competition the alternative to creating and leveraging brand equity.
Exploring the role of brand equity in brand extension by brad vanauken the blake project tweet leveraging new frontiers in customer experience march 29th branding strategy insider helps marketing oriented leaders and professionals build strong brands. Free essay: introduction brand extensions are one of the most popular strategies for many firms to leverage brand equity (monga & john, 2010 tom, kelly. How to manage brand equity published on july 16, 2016 two types of extensions can be distinguished: a line and a category extension the third way to leverage brand equity is to buy it through acquisition or licensing. Munich personal repec archive the concept of brand equity - a comparative approach brand equity can also provide a platform for growth by brand extensions and can provide leverage in the distribution channel as. Brand extension is a marketing strategy in which a firm that markets a product with a well-developed image uses the same brand name but in a different product category brands use this as a strategy to increase and leverage equity.
Are you looking to identify extensions which stretch your brand equity into new space our equity stretch and brand extension approach as we leverage five elements to maximize the outcome: stakeholder engagement - an iterative approach to solution creation. Brand and market extensions brands (and customers) as market-based assets leveraging and managing brand equity and brand portfolios managing brands for market performance in competitive retail environments, brand vs brand equity & positioning sdf-approved. Vertical extensions offer management the quickest way to leverage a core product's equity vertical new product introductions can extend in two directions, upscale, involving a new product with higher price and quality effect of brand extensions on parent brand. One of the most famous strategies to leverage brand equity is brand extension new product variants or product improvements by leveraging the brand equity of the existing parent brand it is believed that instead of establishing an entirely a new brand. University of richmond ur scholarship repository marketing faculty publications marketing 2009 chasing brand value: fully leveraging brand equity to maximize brand value.