What is a brand extension?

Learn what a brand extension is, how companies leverage their existing brand to introduce new products, and its impact on brand equity.

What is a brand extension?
John May-02-2023 06:30:41
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A brand extension is a marketing strategy used by companies to leverage the reputation of an existing brand to create a new product or service. It is a way of expanding the scope and reach of a company’s brand recognition by leveraging the existing goodwill and reputation of the brand identity. The goal is to use the existing brand equity to introduce a new product or service with a lower cost of marketing and to attract new customers. Brand extension can be used with product extensions, line extensions, multiple brands, sub-brands, brand derivatives, and so on.
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Elvin
15 Ques 1 Ans
answered 22 Aug 2023

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