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Brand extensions, which are a popular means of
introducing new products to the marketplace, fall under the ‘One brand all
products’ type of brand strategies. In a typical brand extension
situation, an established brand name is applied to a new product in a
category either related or unrelated, in order to capitalize on the equity of
the core brand name. Consumer familiarity with the existing
core brand name aids new product entry into the marketplace, and
helps the brand extension to capture new market segments quickly.
Brand extensions come in two primary
forms: horizontal and vertical. In a
horizontal brand extension situation, an existing brand name is
applied to a new product introduction in either a related product class, or in
a product category completely new to the firm.
A vertical brand extension,
on the other hand, involves introducing a brand extension. In a
vertical brand extension situation, a second brand name or
descriptor is usually introduced alongside the core brand name, in
order to demonstrate the link between the brand extension and the
core brand name (e.g. Marriott Hotels, Courtyard Inn by
Marriott). Although a brand extension aids in generating consumer
acceptance for a new product by linking the new product with a known brand or
company name, it also risks diluting the core brand image by
depleting or harming the equity, which has been built up within the
core brand name. An inappropriate brand extension could
create damaging associations, which may be very difficult for a company to
There are two types -
Product form extension: Product launched in a different form
usually means line extension rather than brand extension. But if different
product form constitutes entirely a different product category from customer
behavior perspective, it would be called brand extension. For e.g. liquid milk
and dried milk may not be perceived as the product category. Similarly
chocolate bars and chocolate powder belong to different product categories.
Amul Milk à
Amul Condensed Milk
Brand extension is in the form of companion products is perhaps the most
common. The idea perhaps is to capitalize on product complementarily. The
consumer may view both products jointly and hence, provide scope for launching
Colgate Dental Cream à Colgate Tooth Brush Source: Webpage
Social media marketing refers to the process of gaining traffic or attention through social media sites. Social media itself is a catch-all term for sites that may provide radically different social actions.
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Digital marketing technology helps you understand and reach your audience most effectively so you can generate the most revenue. For advertising campaigns, ad serving technology makes it possible to serve the right ad at the right time to right person. That means your advertising is being as productive as possible. When technology is working for you, you’ll understand your audience at a whole new level, and it will show up on your bottom-line.
NEED FOR THE STUDY The
pace of change in today’s business environment is faster than ever. New markets,
technologies, and opportunities are arising on a daily basis. Current ways of
doing business need to be adapted or they will become outdated. Organizations
and enterprises have to become agents of evolution to be successful; as victims
of evolution they risk failure. With so many dynamics operating in the global
economy, Digital Marketing is now more than ever an effective tool to make a
company stand out from the pack.
Some general principles need to be clarified to provide a basis for understanding food-marketing systems within a development context. In order to make any effective interventions in a marketing system it is necessary to define the types of marketing channels, their linkages and functions.
The term “market linkages” is often referred to in the literature on rural development. what precisely does it mean? The term linkage obviously implies a physical connection between the producer and the ultimate consumer. Linkages also involve financial transactions - the selling and buying of goods - and can be broadly defined in four different ways: by the form of financial transactions or type of intermediaries who undertake the transactions;by the channels through which transactions occur and the type of facilities used for transactions;by how they are linked together by transport and communications networks;by the spatial distribution of transactions - where they occur and whethe…