Principles of Brand Extension and its Rationales Essay

Principles of Brand Extension and its Rationales - study ExampleA brands name has been identified as a polo shirt together with the ways of how to give its extension and the reasons why creating much(prenominal). In the economic industry, unlike strategies ar to be considered so that producers provide get the attention of the consumers. With every product that producers will provide, a brand name has to be added. A group of ideas on the certain product is what a brand is (Ferree, 2007). Addition to that, according to Webben (as cited in Keller, 2003), brand is outlined as products which has a goal to satisfy the consumers needs by get their attention on to it providing them with instructions and the products use. After succeeding in the familiarity of the product to the different people, a advanced strategy should be followed and there comes the brand extension. Brand extension as what Sattler, Volckner, Riediger, & Ringle (2009) defined is a strategy wherein the name of a ce rtain product is being utilize for peoples familiarity to introduce a new product. This strategy can help the product to increase its demand in the market. Polo Shirt as the Product Considering Polo shirt as the parent of the brand extension, it has several manageable outcomes much(prenominal) as body towel, underwear and socks. To come up with a winning brand extension, principles are to be considered. ... Of course, if the producer has already earned his consumers trust, it is better if they could provide what the consumer need so that they will non be dismayed. The parent should still switch the power to control the extended brand for they still have the same name thus, has an effect with each others credibility through their consumers opinion. Also, disorderliness with the extended brand with the parent is a big no. Though they are of the same brand, the products are just co-related with each other and so, should not be a cause for the consumers frustration and afflictio n when used the wrong product. If the parent is more of cloth category just like the polo shirt, producers should not create unrelated categories such as soap or food products. Brand extension researchers (n.d) also added that brands should not be extended on different categories for it will affect the products name along the competition. Also, the extended brand should add to the parents credibility through recognition with new, efficient and successful category for the firm on the future. There should be business attributed upon having brand extension. It is good to think of the possible outcome of the brand extension upon having the developing plan. To engage into a brand extension is a good idea to increase your inputs in the market. Actually, Gelder (as cited in Kapferer, 1997) stated practical reasons why having brand extension such as the consumers will experience new products and at the same time, the company will be updated thus, will actively participate on having new inno vations as part of its development Through brand extension, the consumer who used to have a trusted brand will choose it rather trying another one and only(a) thus, making the product reach