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Key success factors for brand extensions
Factors of Brand extension
Recent literature review on brand extension
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Colgate with its new product Visible White has targeted to reach out to urban Indian men and women in the age group of 18-35 years. The main strategy behind segmenting this target group for its product is that people consume carious cosmetics and personal care items to look beautiful/handsome. Colgate with its brand Visible White wants to include teeth in this category. This particular age group is commonly called Generation Y or Gen-Y, which captures 30% of the total internet using population in India. In order to reach out to this TG, Colgate has effectively adopted a digital marketing campaign and extensively used social media channels. The brand aimed to create a strong digital presence in the minds of Gen-Y positioning the product as a
Blogging: Blog allows anyone to post short stories in the form of posts and provides variety of features such as comments, subscriptions, blog rolls, etc. According to a research people trust blogs more than social networking websites or community websites. It is more conversational in nature.
2. Twitter and Micro blogging: Micro blogging is a form of blogging which limits the posts to a certain fixed number of words or characters, for example twitter allows tweets of max 140 characters. Twitter is a channel that every company must utilize effectively in order to stay at the top of what their competitor is doing and to know how the market reacts.
3. Social Networking: Form of social media to share your thoughts and opinions with group of friends and others by means of posts, profiles, Facebook group activities, etc. It can be used to enhance and establish brand image, be a thought leader, market research, networking with group of people with similar interests, targeted
• The image of the brand, before extension will to a great degree effect the perceived image of the brand after the extension.
• If the perceived fit between the parent brand and its extension is low, then there is a high probability that the parent brand image may deteriorate.
• Also if the perceived quality of the extension is low, it will have a negative impact on the overall brand image.
• Lastly, if the customers feel that the extended brand is not innovative, then too it may hamper the image of the parent brand.
Thus we see that brand extensions are double-edged swords in the hands of the marketing manager. They can be used to leverage the popularity of the parent brand and reap huge profits, however poorly executed brand extensions can hamper the image of the parent brand too.
References : 1) Eva Martínez, José M. Pina, (2003),"The negative impact of brand extensions on parent brand image", Journal of Product& Brand Management, Vol. 12 Iss 7 pp. 432-448
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3) Eva MartínezLeslie de Chernatony, (2004),"The effect of brand extension strategies upon brand image", Journal of Consumer Marketing, Vol. 21 Iss 1 pp. 39 –
Thus new products/line extensions will be based on Allround brand, each one with a unique target market, delivering different value proposition to the respective customer.
Sarkar, A. N., & Singh, J. (2005). New paradigm in evolving brand management strategy. Journal of Management Research, 5(2), 80-90. Retrieved from http://search.proquest.com/docview/237238894?accountid=28644
To consider the power of marketing execution (e.g., product placement) versus traditional media planning strategy. How does this new marketing approach affect shifts in brand image?
Prendergast, G., Ko, D., & Siu Yin V., Y. (2010). Online word of mouth and consumer purchase intentions. International Journal Of Advertising, 29(5), 687-708
Marketing through Social Media (Exploratory Essay) Throughout the ages there have been many intriguing ways that businesses have portrayed their product or services for accessibility. Recently, businesses have been researching how to market the businesses product through the World Wide Web. With websites such as Facebook, Twitter, Instagram, it started becoming popular within the past 20 Years. People have started to rely heavily on the internet over the past decade, whether it be for searching for information on products or people.
Reilly & C. James, 1991. The Role of Integrated Marketing Communications in Brand Management, The Advertiser, Vol.1 (Fall), pp.32-35.
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People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
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