In this competitive world, brand extension has become one of the important branding exercises for many companies. Every year many new products are introduce, 80 – 90 % of these products are line extensions of existing brands.
The article is a literature review that gives an overview of brand extension strategies, its implication on parent and extended brand in a competitive context. We shall also study how to go about choosing brand extension strategies, merits and demerits of extensions.
In the article “consumer evaluations of brand extensions” by David Aaker and Kevin Keller, it has been established that consumers evaluate brand extensions parented on their perceived fit with the parent brand. However, little attention has been given to develop advertising campaigns for the launch of brand extension. Advertising plays a vital role in the success of the new product launch. A brief about line extension advertising strategy would be covered. Here we will study the effectiveness of line extension launch campaigns on parent brand and try to establish relationship between the two.
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