Examples of extensibility in the following topics:
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- Another form of brand extension is a licensed brand extension.
- For example, Diet Coke™ is a line extension of the parent brand Coke ™.
- Brand line extensions do present two potential main threats.
- Additionally, there is potential for intra-firm competition between the parent product and the line extension or between two or more line extensions.
- Diet Coke is a brand line extension of the Coca Cola Brand.
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- A product line extension is the use of an established product's brand name for a new item in the same product platform.
- Thus, line extension occurs when the company lengthens its product line beyond its current range.
- A line extension strategy should only be considered when the producer is certain that the capability exists to efficiently manufacture a product that compares well with the base product.
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- Common practices in the competition between firms (such as supermarkets and other stores) include the following: traditional advertising and marketing, store loyalty cards, banking and other services (including travel insurance), in-store chemists and post offices, home delivery systems, discounted petrol at hypermarkets, extension of opening hours (24 hour shopping), innovative use of technology for shoppers including self-scanning, and internet shopping services.
- The firm can also distinguish its product offering through quality of service, extensive distribution, customer focus, or any other sustainable competitive advantage other than price.
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- Unlike routine problem solving, extended or extensive problem solving comprises external research and the evaluation of alternatives.
- Likewise, consumers use extensive problem solving for infrequently purchased, expensive, high-risk, or new goods or services.
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- Hence, unsought goods require advertising and personal-selling support, and extensive marketing in other areas as well.
- —until they were advertised extensively in innovative ways.
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- This is accomplished through extensive mass advertising, sales promotion devices such as coupons and point-of-purchase displays, and effective packaging.
- Many buyers conduct extensive research into buying a car.
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- The services marketing mix is an extension of the 4Ps framework.
- The need for the extension is due to the high degree of direct contact between service providers and its customers, the highly visible nature of the service process, and the simultaneity of the production and consumption.
- Although it is possible to discuss people, physical evidence and process within the 4P framework (for example, people can be considered part of the product offering), this extension allows for a more thorough analysis of the marketing elements necessary for successful services marketing.
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- Effective marketing campaigns that increase brand awareness also eliminate confusion between similar brands, as well as inconsistencies that may arise in brand extensions under single brands.
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- Also high-low pricing is extensively used in the fashion industry by companies (ex: Macy's and Nordstrom) This pricing strategy is not only in the shoe and fashion industry but also in many other industries.
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- Consequently, brands competing in the global marketplace often conduct extensive research to accurately define the market, as well as the attributes that define the product's potential environment.