Brand extensions can help companies introduce new products using existing brand equity. There are two main types of extensions: line extensions that target new segments within a category, and category extensions that enter a new product category. Well-implemented extensions offer advantages like facilitating new product acceptance through familiarity, improving brand image by leveraging associations, and reducing risks and costs compared to new brands. They can also provide feedback benefits to the parent brand.

1. Brand Extensions

2. Growth strategies Current Products New Products Current Market New Market Market Penetration Strategy Product Development Strategy Market Development Strategy Diversification Strategy