Brand extension is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category.Organizations use this strategy to increase and leverage brand equity.
Brand extension offers a powerful tool to brand managers to mitigate initial risk while entering a new product category. The reason for doing this is simple. It takes a lot of time and money to develop a brand from scratch and it is far more easier to use the same brand name in a different product category . But Continue reading