wat does brand extension mean? cud u give me an example?
http://en.wikipedia.org/wiki/Brand_extension
wat????? me no understand^^
Click on the link above.
Brand extension refers to the practice of using an existing brand name to launch a new product or enter a different market segment. Essentially, it is when a company capitalizes on the success and recognition of their current brand by expanding into related or unrelated product categories.
To explain how to get an example of brand extension, you can follow these steps:
1. Identify a well-known brand: Think of a brand that is popular and easily recognizable. For instance, Coca-Cola is a widely recognized brand across the globe.
2. Research the brand's product offerings: Look into the products already offered by the brand. In the case of Coca-Cola, they have a range of carbonated soft drinks like Coca-Cola Classic, Diet Coke, Sprite, etc.
3. Look for examples of brand extension: Check if the brand has introduced new products that are not directly related to their core offering. In the case of Coca-Cola, they have extended their brand through product variations like Coca-Cola Zero (a zero-calorie option), Coca-Cola Cherry (a cherry-flavored variant), and Coca-Cola Energy (an energy drink).
Therefore, brand extension in the context of Coca-Cola would be the introduction of these new variants that leverage the existing brand name to appeal to different consumer preferences and market segments.