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
A brand portfolio is aiming to maximise market coverage and minimise brand overlap, and it is a set of different segments of the company's brands and brand lines. The combination of the brands and brand lines is aiming to maximise equity and profit of the company. Generally, marketers should trade of market coverage with costs and profitability, they also can increase profits by dropping brands a portfolio is too big or adding brands a portfolio is too small. In addition, every brand should focus on differentiation and appealing to a sizable enough marketing segment (Kirca, et al., 2019).
A brand extension occurs when an organisation uses one of its existing brands to brand a new product in a different product category and new markets in different areas. A brand extension is different from a line extension, the line extension creates new product projects (like new flavour, colour and package) in the same product category. However, brand lines are based on new brands, which is related to new products, but the brand is new. A brand can be weakened if it is extended too many times or extended too far outside its original product category (Michel & Donthu, 2014). The relevancy degree of new and old products, the competition of the new market and the reputation old brand image both affect the brand extension growth.
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