BRAND EXTENSION STRATEGY AND BRAND EXTENSION EXPERIENCES OF SOME FAMOUS BRANDS IN TURKEY

Abstract

Author(s): nal EFE

Companies are required to adapt themselves to changing world conditions. Being oblivious to changing and not producing marketing strategies that are appropriate to market conditions can cause businesses to be weakened financially and disappear eventually as businesses. Brand extension is a marketing strategy that offers significant advantages to businesses. The brand extension, which is the introducing new products to the market by using strong connotation of existing brand on consumers, enables businesses to become financially strong and to increase their current market share even higher. The brand extension strategy, which offers significant competitive advantages to businesses, is coming into prominence both in the world and in Turkey. In this respect, the concept of brand and brand extension are first explained in the study. The types of brand extension and the factors affecting the success of brand extension are mentioned and the advantages and disadvantages of brand extension are determined. Finally, the brand extension applications of 5 known major brands in Turkey are briefly explained.

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