noun the new product or product line introduced through this strategy
In the field of marketing, brand extension refers to the practice of using an existing brand name for a new product or service in order to leverage the brand's existing reputation and customer loyalty.
Brand extension is often used as a strategic tool in business to expand a company's product offerings and reach new markets without having to build a new brand from scratch.
Brand extension can influence consumer behavior by leveraging the trust and familiarity consumers have with a brand to encourage them to try new products or services under the same brand umbrella.
Brand extension is a key concept in brand management, as it involves managing the perception and reputation of a brand across different product categories or industries.
In the field of writing, brand extension can be used to expand the reach of a writer's work into other genres or formats, such as branching out from novels to also writing screenplays or articles for magazines.
Psychologists can use brand extension to offer additional services or products related to their expertise, such as creating self-help books, online courses, or merchandise to complement their therapy sessions.