Review:
Brand Extension
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
Brand extension is a marketing strategy that involves using an existing brand name to introduce a new product or service.
Key Features
- Leverages existing brand recognition
- Can lead to increased market share
- Allows for expansion into new product categories
Pros
- Builds on brand equity
- Increases customer loyalty and trust
- Reduces marketing costs for new products
Cons
- Risk of damaging the original brand image if the extension fails
- Difficult to maintain consistency across different product lines