Brand Extension Products
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Choose a product and discuss how you would create a brand extension of that product. Include your rationale for the brand extension.
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The brand extension products are determined.
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Brand extension supports the company to expand its current brand and to improve the features in the current brand. It helps the company to attract more customers in the market. The selected company is Mitsubishi and the product is Pajero for analysis of brand extension. To attract more customers in the market and to extend brand awareness in the global market, the company will choose line extension strategy. It will be helpful for the company to create awareness of existing brand and also helpful for marketing managers to expand product line through increase in colors, features and size of the product in the market (Keller, Parameswaran & Jacob, 2011).
It will also be sensible for the company to use an existing brand in launching a new product with new category. Brand extension in the market creates positive synergy for the parent brand in the market. It also improves the profitability of the company. To develop the strategy for brand extension, the company will consider developing the mission and vision of brand extension. In this, the company will clear the ...
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