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* '''[[w:Brand extension|Brand extension]]''' or '''brand stretching''' is a [[w:marketing|marketing]] strategy in which a firm marketing a product with a well-developed image uses the same [[w:brand name|brand name]] in a different product category. The new product is called a '''spin-off'''. | * '''[[w:Brand extension|Brand extension]]''' or '''brand stretching''' is a [[w:marketing|marketing]] strategy in which a firm marketing a product with a well-developed image uses the same [[w:brand name|brand name]] in a different product category. The new product is called a '''spin-off'''. | ||
:::Organizations use this strategy to increase and leverage [[w:brand equity|brand equity]] (definition: the net worth and long-term sustainability just from the renowned name). An example of a brand extension is [[w:Jello|Jello]]-gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product category. ( Wikipedia ) | :::Organizations use this strategy to increase and leverage [[w:brand equity|brand equity]] (definition: the net worth and long-term sustainability just from the renowned name). An example of a brand extension is [[w:Jello|Jello]]-gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product category. ( Wikipedia ) | ||
== Session 4 and 5 - Brand identity and image == | == Session 4 and 5 - Brand identity and image == |