What does brand stretch mean?

What does brand stretch mean?

The term brand stretch refers to how far a business can stretch its products or services into new and unrelated markets successfully. Think Yamaha, originally a musical instrument manufacturer, launching into the unrelated motorbike market.

What is brand stretching give an example of brand stretching?

Brand stretch: a launch of a new product into a completely different and unrelated category e.g. Galaxy Creamy Hot Chocolate with Marshmallows or Robinsons Classic Fruits Sweets.

Why is brand stretching important?

It increases brand image. The risk perceived by the customers reduces. The likelihood of gaining distribution and trial increases. An established brand name increases consumer interest and willingness to try new product having the established brand name.

Why do brands stretch?

Brand stretching is a frequently used strategy among established brands. By launching a new product within the same category, companies can save on promotional activities, revive the brand, as well as improve its image.

What is brand extension example?

A brand extension (some times called a category extension) is when a brand is known for one type of product starts selling a different type of product. Some example of brand extension are: Apple: from personal computers into MP3 players. Callaway: from golf clubs into footwear, apparel and golf accessories.

When should I extend my brand?

Extending a brand outside its core product category can be beneficial in a sense that it helps evaluating product category opportunities, identifies resource requirements, lowers risk, and measures brand’s relevance and appeal. Brand extension may be successful or unsuccessful.

What is brand stretching in luxury?

Brand stretching. Applying luxury strategy to a fashion or premium strategy – for example Cartier and Hermes with perfume category or Louis Vuitton to ready to wear. Luxury brand stretching is both brand extension and pure brand stretching.

What is brand extension examples?

What are types of brand extension?

Basically, a brand extension is leveraging an existing brand to promote a product in a different category. There are various types of brand extension such as product form, companion product, expertise, customer franchise and brand image type.

How do you extend a brand?

The easiest way to extend a brand is to add branded products within the existing product line. The brand has already gained recognition and loyalty within a specific product line, so it makes sense to add complimentary products. For example, a shampoo brand could add a conditioner product, hairspray product, and so on.

Why is brand extension important?

Brand extensions can also benefit the parent brand by creating a greater sense of loyalty, reaffirming the brand promise and consumer perceptions of the brand, and sustaining the parent brand’s relevance in its existing category. Extensions can also help to establish a brand’s position in new categories.

What is a brand extension examples?

What are two types of brand extensions?

Here’s a list of some of the top types of brand extensions:

• Product extension.
• Line extension.
• Customer franchise extension.
• Company expertise extension.
• Brand distinction extension.
• Transfer of component extension.
• Leveraging a lifestyle extension.

What is brand extension with example?

What is brand types of brand extension?