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How to Increase the Odds for Successful Brand Extension
Author(s) -
Kane Chester L.
Publication year - 1987
Publication title -
journal of product innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.646
H-Index - 144
eISSN - 1540-5885
pISSN - 0737-6782
DOI - 10.1111/1540-5885.430199
Subject(s) - leverage (statistics) , marketing , brand extension , objectivity (philosophy) , odds , variety (cybernetics) , business , brand management , brand equity , perception , computer science , psychology , logistic regression , epistemology , machine learning , artificial intelligence , neuroscience , philosophy
Increasingly, new products are being introduced to the market as line extensions. Chester Kane discusses several ways to improve current practices. He argues that several special steps should be taken to obtain maximum leverage from the value of an existing brand name. Starting with efforts to understand customer's perceptions of the brand, he describes a series of approaches that collectively stress planning, objectivity, and the use of appropriate research tools. The article discusses a variety of both successes and failures, noting that seldom do customer's perceptions match current brand marketing strategies, a fact overlooked by many companies.