IN PARTIAL FULLFILLMENT FOR
“SEMINAR ON CONTEMPORARY MANAGEMENT ISSUES”
(PAPER NO. 207)
1. Introduction Of Brand Extension
1.1 What is the Means of brand Extension?
1.2 Types of Brand Extension
1.3 Benefit of Brand Extension
1.4 Risk of Brand Extension
1.5 Characteristics of successful Brand Extension
1.6 Brand Extension Failure
1.7 Principle of Brand Extension
1.8 Brand Extension Research Case history- Carnation
1.9 Brand Extension Research Case History-Dole
2. Research Methodology
2.1 Tile of Subject
2.2 Objective of Study
2.3 Type of Research Design
2.4 Instrument use in study
2.5 Method of data collection
2.6 Simple size
This report is to acknowledge my indebtedness to my guide. Faculty of ‘Subodh Institute Of Management & Career Studies’ Ram Bagh Circle, Jaipur’ Jaipur for his guidance and suggestions for completing this report. Her great presence always encourages me to hardworking and completes this task timely. I really thankful to their Hartley support in every step of this Report.
Recognizing that one of their most valuable assets is their Brands, Many firms have decided to leverage that asset by introducing a host of new products under some of their strongest brand names. Most new products are in fact line extension – typically 80 to 90%in any year.
Moreover, many of the most successful new products, as rated by various sources, are Extension (e.g. Microsoft Xbox video game system, apple iPod digital Music player, and Nokia 6800 cell phone). Nevertheless, many new products are introduced each year as new brand (e.g., Zyprexa mod stabilizer drug, TiVo digital recorder, and mini automobile).
“When a firm uses an establishment brand name to introduce a new product “
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. Organizations use this strategy to increase and leverage brand equity (definition: the net worth and long-term sustainability just from the renowned name). An example of a brand extension is Jello-gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product category. A brand's "extendibility" depends on how strong consumer's associations are to the brand's values and goals. Ralph Lauren's Polo brand successfully extended from clothing to home furnishings such as bedding and towels. Both clothing and bedding are made of linen and fulfill a similar consumer function of comfort and hominess. Arm & Hammer leveraged its brand equity from basic baking soda into the oral care and laundry care categories. By emphasizing its key attributes, the cleaning and deodorizing properties of its core product, Arm & Hammer was able to leverage those attributes into new categories with success. Another example is Virgin Group, which was initially a record label that has extended its brand successfully many times; from transportation (aero planes, trains) to games stores and video stores such a Virgin Megastores. In 1990s, 81% of new products used brand extension to introduce new brands and to create sales. Launching a new product is not only time consuming but also needs a big budget to create awareness and to promote a product's benefits. Brand extension is one of the new product development strategies which can reduce financial risk by using the parent brand name to...