Brand Extension Strategy

A brand is a name that is given to a product or service so that it will have an identity to itself. Brands are usually different from products. Brands are basically related to what the customers buy whereas products are related to what the companies make. A brand is considered as an accumulation of functional and emotional associations.

Brand extension is an essential way of leveraging brand equity. When your brand equity is strong, you can use it to increase your presence in other areas. With Graphic Villa as your branding agency, you can conceptualize spin-offs and get a clear idea about how much expansion is viable for you.

Creating a cohesive brand portfolio with brand extension is an integral part of your overall brand strategy. We make sure that every sub-brands tell their own stories and maintain its customer base. We ensure that each of them has its unique way of interacting with the customers.

Any brand extension strategy should take into account the popularity and strength of the brand. Graphic Villa will help you with a realistic and frills-free market and consumer insights. A successful brand is one that knows when to seize opportunities and when to cut loose.

An increasingly competitive market makes it impossible for a company to stay ahead if it doesn’t present something new to its target audience. To increase market share, become more innovative, and create a new product category, entrepreneurs consider a brand extension. It’s a critical step that helps boost business and engage new leads.

Companies research to figure out the new wants and needs of their prospective customers so that they can create a product that will satisfy the requirements. To implement this technique successfully, brands study and analyze the new trends. Afterward, they strive to create a necessary product that will be sold easier under the name of an established company.

The process brings several benefits to businesses. Corporations obtain an increased brand image, save funds on the development of a new brand, use costs on promotion efficiently, and gain more revenue.

With the help of the brand extension, companies present products that are accepted by customers. Nowadays the strategy is popular because businesses can assess their opportunities in new product categories, find out how relevant and appealing their brands are, and define resource requirements.

Traditionally a lot of Consumer-Goods companies have successfully used brand extension exercises to sustain, leverage, and revamp their brand equity. Brand extension for consumer goods companies is relatively a natural exercise, where changing needs of consumer demographics and competition asks for constant renewal of product portfolio.