Professor Franziska Volckener together with Professor Henrik Sattler of Institute of Marketing together with Retailing, University of Hamburg, published a really insightful article titled Drivers of Brand Extension Success inwards Journal of Marketing inwards 2006 which spoke well-nigh critical success factors that drive build extension success. The authors through extensive empirical enquiry distilled v factors that attain upward one's heed whether a build extension volition succeed inwards the marketplace lay place.
The written report which was conducted inwards High German FMCG manufacture gives valuable insights for marketing managers across the world.
The v factors that attain upward one's heed the success of build extensions are equally follows
1. Fit betwixt nurture build together with build extension : Whether the extension is inwards employment amongst the nurture brand's positioning together with consumer perception
2. Parent-brand conviction : The build equity of nurture build , the trust of consumers on the nurture brand's lineament are critical cistron that aid extension success.
3. Parent-brand sense : The previous sense of the consumer towards the nurture build volition impact the consumer's reply to the extension
4. Retailer credence of build extension : Retailers play an of import business office inwards the build extension's success.
5. Marketing back upward : The investment inwards build advertisement too has a potent business office to play inwards the success of the build extension.
My Two Cents : The higher upward cited enquiry throws of import low-cal into the critical determinants of build extension credence past times consumers. Marketers should persuasion these factors holistically because all these factors collectively contribute to the success of extensions. These factors similar parent-brand sense together with parent-brand conviction bring fourth dimension to develop. Hence haste inwards extending a build without these factors tin last risky.
While I am personally critical of build extensions, marketplace lay pressures together with opportunities build prepare extensions a vital chemical component subdivision inwards the marketing strategy . The enquiry of Professors Volkener together with Sattler is really relevant inwards this context.
