Post by sakibkhan51 on Feb 28, 2024 8:10:01 GMT 2
Who among you has already heard of TikTok 's new brand extension technique , i.e. the idea of launching into food delivery ? And for those who answered yes: tell the truth, it intrigued you and at the same time made you skeptical, right? But, before analyzing what this brand is actually up to, the question that arises spontaneously is: what does social media have to do with food ? And, even more so, with delivery? What are we talking about? What is brand extension The path that TikTok has decided to take is commonly referred to as brand extension. Quoting Philip Kotler and Kevin L. Keller (in the book Marketing Management ), this term refers to "a company that takes over an existing brand to introduce a new product" on the market. In practice, it involves expanding the brand to a different market sector from the one in which the so-called " mother brand " has built its reputation over time. In this way, it facilitates an increase in its range of customers, while at the same time increasing the satisfaction of other needs of already loyal customers.
coca cola brand extension Brand extension therefore allows you to transfer the notoriety and visibility of a specific brand to a new product (the so-called extension product ). Types of brand extensions In reality, brand extension operations can take place in five different ways: Line extensions The same brand is used to launch a product in a slightly different way. The product, in fact, will show a small variation compared to other existing products. Product extensions The parent brand launches a completely new product , which is aimed at the same user base. Extension of customer type A group of products is launched that can be considered relevant for a certain well-defined type of customers . Extension of company expertise Based on the company's experience, a product category is launched that uses the same brand Morocco Phone Number but extends its products to other markets . Extension of brand distinction The brand leverages the benefits of its product that make it unique , and from here the range of products is expanded and then pushed onto the web.
Benefits of brand extension The brand extension technique is useful as it can increase the probability that the new product will be successful. Although the launch of a new item involves initial costs and risks related to failure , if a brand is already known and enjoys consumer trust, it is much easier to get noticed by exploiting the reputation of the parent brand. In fact, consumers will tend to favor operations of this type if carried out by brands they trust and for which they already have high loyalty . snow Furthermore, through brand extensions, the company tries to protect itself from the risk of customer turnover , i.e. customer abandonment. In fact, extending the product line can ensure that the customer, should they abandon the original product, chooses one that still falls among the products offered by the brand. Another important benefit is the transfer of the intangible benefits associated with a brand to the new product. These are associations not only relating to the quality of the products but also to the socio-economic status linked to them (as well as concepts such as environmental sustainability,
coca cola brand extension Brand extension therefore allows you to transfer the notoriety and visibility of a specific brand to a new product (the so-called extension product ). Types of brand extensions In reality, brand extension operations can take place in five different ways: Line extensions The same brand is used to launch a product in a slightly different way. The product, in fact, will show a small variation compared to other existing products. Product extensions The parent brand launches a completely new product , which is aimed at the same user base. Extension of customer type A group of products is launched that can be considered relevant for a certain well-defined type of customers . Extension of company expertise Based on the company's experience, a product category is launched that uses the same brand Morocco Phone Number but extends its products to other markets . Extension of brand distinction The brand leverages the benefits of its product that make it unique , and from here the range of products is expanded and then pushed onto the web.
Benefits of brand extension The brand extension technique is useful as it can increase the probability that the new product will be successful. Although the launch of a new item involves initial costs and risks related to failure , if a brand is already known and enjoys consumer trust, it is much easier to get noticed by exploiting the reputation of the parent brand. In fact, consumers will tend to favor operations of this type if carried out by brands they trust and for which they already have high loyalty . snow Furthermore, through brand extensions, the company tries to protect itself from the risk of customer turnover , i.e. customer abandonment. In fact, extending the product line can ensure that the customer, should they abandon the original product, chooses one that still falls among the products offered by the brand. Another important benefit is the transfer of the intangible benefits associated with a brand to the new product. These are associations not only relating to the quality of the products but also to the socio-economic status linked to them (as well as concepts such as environmental sustainability,
