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The impact of Brand Extension on Brand Personality. Caterpillar and Burger King - Dissertation Example
Author : vonruedengiovan
Pages 46 (11546 words)
The main objective of this research is to find the brand extension impact on the brand personality of Caterpillar and Burger King in such a way that each dimension of brand personality compared with the variable of brand extension. …
The paper tells that the strategy in which companies bring in products to the marketplace, with which they can make use of an existing brand name, is called brand extension. Brand extension of an existing brand has possible advantages based on customer awareness and opinions concerning the existing product that is sell under that particular brand name as evaluated to introduce a new brand name. Brand extension is a very important brand approach to make the most of the value of brand influence. Brand extensions and brand personalities have become the most essential research areas since 1990 in the field of brand management. We try to tell the effect of the interaction between brand personality and similarity on brand extension evaluations. The customer’s evaluation for the brand determines the success of that brand. The success of the brand is very unsure and unsuccessful brand extensions can harm the parent brand that results in the significant loss of brand equity. The use of well-known brand names for launching the new product is one of the most commonly in use brand strategies. The brand extensions that are successful, depends on the customers perception of fit or similarity between the new extension and the parent brand. The studies reveal the relations between the parent brands and the extension groups: factors that affect the parent brand will affect the extension as well. Similarly, factors that control the extension group will affect the parent brand. Customers-evaluating brand extensions may modify their core values about parent brands, which may lead to a stronger or weaker brand positioning ...