DEVISING A BRANDING STRATEGY.
The branding strategy for a firm reflects the number and nature of common and distinctive brand
elements applied to the different products sold by the firm.
In other words,devising a branding strategy involves deciding the nature of new and existing brand
elements to be applied to new and existing products.The decision as to how to brand new products
is especially critical.when a firm introduces a new product,it has 3 main choices:
• It can develop new brand elements for the new product.
• It can apply some of its existing brand elements .
• It can use a combination of new and existing brand elements.
When a firm uses an established brand to introduce a new product it is called brand extensions .
When a new brand is combined with an existing brand the brand extension can also be called as subbrand.
An existing brand gives birth to a brand extension is referred as the parent brand if parent brand is
already associated with multiple products through brand extensions it may be called as family brand.
Brand extensions can be broadly classified into two categories: