What is Brand Extension?
Definition and meaning of Brand Extension:
Brand extension is the process of taking an existing brand and applying it to a new product or service.
It involves introducing new products or services under the same brand name with similar characteristics and benefits.
For example, if you sell soda, you can extend your brand by introducing a new line of snacks. Or if you have a clothing company, you can have a line of accessories.
One example of a famous brand is Snickers. They introduced ice cream bars under the same brand name.
This way, you can leverage the familiarity of your existing brand to increase the success of the new product.
Using the same brand name, you can connect with your existing customers and make it easier to attract new customers.
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