What is brand extension and line extension?
Also question is, what is brand line extension?
Line extensions occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes. This is as opposed to brand extension which is a new product in a totally different product category.
Furthermore, how do you brand an extension? To increase the probability of success, any brand should follow a few best practices.
- Measure Brand Equity.
- Measure the potential risks.
- Leverage from business core competency.
- Invest in Marketing Research.
- Make the brand extension a logical fit.
- Create a Brand Extension Strategy.
Just so, what is brand extension example?
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. An example of a brand extension is Jello-gelatin creating Jello pudding pops.
When a company uses line extension it is?
line extension. Multiproduct branding strategy whereby a firm markets one or more new products under an already established and well known brand name. The objective is to serve different customer needs or market segments while taking advantage of the widespread name recognition of the original brand.