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I believe that brand extensions are an important brand growth strategy depending on the main product itself. Two main advantages of brand extensions are that they can facilitate new- product acceptance and provide positive feedback to the parent brand and company. (Kotler, 2012, p. 264) For example, automobiles with Hybrids such as the Toyota Camry or Coca-Cola with coke zero or diet coke, satisfying the consumer's particular needs and wants.
The worst possible scenario is for an extension not only to fail, but to harm the parent brand in the process. Fortunately, such events are rare. " Marketing failures," in which too few consumers were attracted to a brand, are typically much less damaging than " product failures," in which the brand fundamentally fails to live up to its promise. (kotler, 2012, p.265) A perfect example is Dr. Pepper Marinade; consumers prefer sodas to be sodas and not a BBQ marinade.© BrainMass Inc. brainmass.com April 1, 2020, 10:49 pm ad1c9bdddf
I agree, brand extensions are an important brand strategy. In addition to the reasons cited by the post, brand extensions can also create a way for organizations to carve out more space for their products and increase their brand ...
This solution is in response to a post discussing the pros and cons of brand extensions.