Brand Extensions Brand extension is a marketing strategy according to which a company marketing a product or a service launches a new offering (product or service) that is related to the one of the existing brands of the company‚ but offers different benefits and/or targets a different segment. Organizations use this strategy to increase and leverage upon their brand equity. When a firm is introducing a new product‚ it has the following 3 choices on branding: 1. Developing a new brand for the
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Chapter 1 Related Theory Discussion 1.1 Brand: The American Marketing Association defines a brand as a "Name‚ term‚ design‚ symbol‚ or any other feature that identifies one seller ’s good or service as distinct from those of other sellers." A brand can take many forms‚ including a name‚ sign‚ symbol‚ color combination or slogan. For example‚ Coca Cola is the name of a brand make by a particular company. 1.2 Local brand: A local brand is a brand that is sold and marketed (distributed and
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original formula. While licensing agreements also aimed to specify how the Heineken brand should be marketed‚ Heineken could not influence how a licensee marketed its own brands. At the end of 1993‚ Heineken‚ being the market leader in Netherlands‚ was viewed as a mainstream brand. Outside the Netherlands‚ however‚ Heineken had consistently been marketed as a premium brand. Sales volume was declining and the brand image needed some revitalization. In January 1994‚ senior managers at Heineken headquarters
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that all its stores carry the basic product line with little room for adaptation to local tastes. If research of the U.S. market showed that Americans preferred larger beds than their Swedish counterparts‚ which of the following strategies would be advisable to Ikea? a. standardization. b. new product development. c. adaptation. d. withdraw from market. e. lower prices to encourage attitude change. Answer: (c) Difficulty: (1) Knowledge:
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Issues in Brand Rejuvenation Strategies Issues in Brand Rejuvenation Strategies Venktesh Babu Summary This study looks at the concept of Brand Rejuvenation‚ which is gaining momentum with the increase in the number of brands failing quickly after launch. The study details out the various aspects of Brand Rejuvenation involved in the FMCG sectors. The study gives a brief gist of the various causes for brand rejuvenation‚ the methods of rejuvenation and also the issues in brand rejuvenation
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........................................8 Objectives of Brand Audit:...................................................................8 Scope of Brand Audit:..........................................................................8 Approach Used for Brand Audit:..........................................................9 Brand......................................................................................................9 Brand (Self Analysis):........................................
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1. the target market for the business’s products or services‚ Target Market When an entrepreneur is considering a new business is the time to target a market and to learn everything possible about target market members. This part of branding strategy requires knowing demographic characteristics of target market members. Demographic characteristics can usually be determined through research‚ including brain-storming and researching literature on the Internet and at libraries. 2. the name of
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Brand Extensions are an important brand growth strategy The popularity of ‘Brand extensions’ rose since 1990s‚ with the increase in competition and the high costs of developing new brands (Chernatony & McDonald‚ 2002). This concept has been derived by marketers to optimize sales and profits by launching new or modified products under the parent brand name. In definition ‘Brand extension’ is using the leverage of a well-known brand name in one category to launch a new product in a different category
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Brands and Branding Samsung in India: Brand Building through Customer Service Whirlpool’s Product Innovation and Brand Building Strategies in India: Re-creating the Lost Magic? This case is written to debate and discuss on the issue – In the presence of focused and determined competitors‚ even a wellknown and established player is capable of making all the possible incorrect strategic moves. Established in 1996‚ Whirlpool of India Ltd. (WIL) set out to capture the Indian market with its customer-centric
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IKEA has created a global brand focused on low prices and contemporary designs. In 2009‚ Interbrand ranked IKEA 28th on its list of the top 100 global brands (# 35 in 2008 indicating 10% increase in brand value over just year). IKEA’s success is attributed to its vast experience in the furniture retail market‚ its product differentiation and cost leadership. The brand Ikea has become iconic in consumers’ minds. CEO‚ Anders Dahlvig‚ states “the awareness of our brand is much bigger than the size of
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