Question
What should I comment on the following analyses statingsomething positive, an additional point that they missed, and a reading that they could refer to and
What should I comment on the following analyses statingsomething positive, an additional point that they missed, and a reading that they could refer to and the reason with reference please
Brand extension is a widely used concept in the field of marketing, using a successful brand name to launch new or modified products in new categories. It is a widely accepted brand strategy that appends existing brand names to new products in different product categories.(Afzal2013).Theproduct and brand portfolio extensionisan effective marketing strategy to meet customer needs and make a competitive advantage in the market(Kirca, TalayandAkdeniz 2019).Brand similarity fit has a positive impact on brand extension. If there is a high similarity between parent brand and extended brand category, the more likely brand extension has the core brand attribute. Brand extension in new product categories is regarded as a new phenomenon more or less similar to brands and their existing product lines. For a successful extension, a logical match between the parent company and the extension category is important. A logical fit helps consumers shift the positive impact of the parent brand to expansion. The product information available in the market is a success factor of brand extension(Imtiaz, Ali,KimandAhn2016). In addition, brand extension increases with brand association(MichelandDonthu 2014).Brand extension strategy leads brand association from parent brand to extension brand thus customerevaluation brand extension is based on brand association.Moreover, there is a correlation between consumer behavior and brand extension. If consumers think that a brand has high quality, thenextensionwill be beneficial. Customers' attitude towards brand extension is positively affected by brand awareness(Imtiaz, Ali,KimandAhn2016). A strong brand in the market can minimize the risk of launching new products in the market, because it provides consumers with the knowledge and familiarity of existing brands.
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