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Advantages and Cautions of Brand Extensions
Genevieve Northup, Editor, Germany, Premium Member
A brand extension is a branding technique that relies on an established umbrella brand to bring a new product to market (Kotler & Keller, 2009, p. 139).
These are the main advantages of brand extensions:
- INCREASE THE LIKELIHOOD OF NEW PRODUCT SUCCESS. Target markets and retailers are likely already familiar with the company and its benefits.
- REDUCE COSTS OF PRODUCT INTRODUCTION. Less time and money is needed to bring a product to market because slogans, art... Read more? Sign up for free
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