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Branding Continued…

Branding Continued…. Dr. Cara Peters BADM 672D. Brand Extensions. Take equity of the brand and use it in another context Advantages: Save money, instant recognition, more easily build market share Normal new brand introduction costs: $50 million - $1 billion for a large firm

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Branding Continued…

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  1. Branding Continued… Dr. Cara Peters BADM 672D

  2. Brand Extensions • Take equity of the brand and use it in another context • Advantages: • Save money, instant recognition, more easily build market share • Normal new brand introduction costs: $50 million - $1 billion for a large firm • May rejuvenate old brand • General Mills example

  3. Brand Extensions • Works well for brands with higher emotional connections • Built on personality, values, etc. • Keys to success • Compelling brand proposition in new category • Sufficient competence in new category • “Fit” of brand in new category

  4. Brand Extensions • Risks: • Failure of new product may hurt brand • Lose focus of brand • Damage perceptions of brand • Cannibalization • Least risky: related product in same market • Most risky: unrelated product in new market • Honda= Cars vs. Jeep=Luggage

  5. Ask Yourself • What does your brand stand for in the mind of the consumer? • What could you potentially make it stand for? • In what markets would your brand profile match the needs of consumers? • Are those segments attractive? • Could you have leading edge competence in those markets?

  6. Co-branding & Ingredient Branding • Co-branding A partnership between two brands: HPiPaQ • Ingredient branding Inclusion of one brand within the other: Intel

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