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Extensions, Part 2 |
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In the short term, extensions and merchandise make money, build hype, and give customers a way to "live the brand." Longer term, they may be detrimental, leading to overexposure and loss of focus, hurting sales and market share. One solution is to offer limited-edition or seasonal extensions. The other is to simply refrain from extending the brand, no matter how tempting the short-term gains, if the long-term perspective is questionable.
One of the most effective strategies for a new or growing brand is to associate itself with another, established brand that already has credibility with the audience the new brand is seeking. Such co-branding associations are often analogous to the "four Ps" of marketing. Usually, they don't fit squarely into a single category, but straddle two or more.
A product partnership works when both brands' offerings have complementary benefits. By joining up, the two can give the customer a package that neither could deliver separatelyand, hopefully, that no competitor can offer. The benefit to each is that the audience perception of it is improved through its association with the other. For example, the branding partnerships Intel forged with many computer makers for the "Intel Inside" campaign demonstrate this so-called virtuous circle: Dell, |
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