What is Brand Extension?
Brand Extension is a strategy by which a company creates a new product or service category under its existing renowned brand. This strategy allows the company to launch the new product to the market with pre-established brand awareness.
It also allows an organization to launch new products easily, obtain higher profits, reduce costs necessary to launch a new business and meet customers’ needs and wants.
2. Brand Extension –
A Crucial Way of
Expanding Brand Potential
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3. The objective of Branding is to attract and retain
customers and other stakeholders by delivering
a product or service that is always in line with
the Brand Promise.