BRAND STRETCHING Meaning and
Definition
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Brand stretching is a marketing strategy in which a company expands the use of its established brand name into new product categories or markets. It involves leveraging the positive brand image and equity built by an existing brand to enter into unrelated or loosely related product or service offerings. The aim of brand stretching is to capitalize on the existing brand strength and gain a competitive advantage in new markets.
This strategy is based on the belief that consumers who have a positive perception of a brand in one category will naturally extend their trust and loyalty to new areas. By associating a trusted brand with new offerings, companies aim to reduce perceived risk and increase the likelihood of purchase from their loyal customer base.
Brand stretching can take various forms, including line extension (introducing new products within an existing category), category extension (entering new product categories), or even brand extension (launching a new brand altogether). It allows companies to diversify their product portfolio, target new customer segments, and potentially increase revenue.
However, brand stretching also carries risks. If the new product or market does not align with the core values and attributes of the original brand, it can lead to brand dilution or damage. Therefore, careful market research, strategic positioning, and proper brand management are crucial to ensure a successful brand stretching initiative.
Etymology of BRAND STRETCHING
The term "brand stretching" is a marketing concept that refers to the practice of using an established brand to expand into new product categories or target markets. The term itself does not have a specific etymology, but it is a combination of two words: "brand" and "stretching".
The word "brand" originated from the Old Norse word "brandr" which means "burning" or "to burn". In the Middle Ages, it became associated with a distinctive mark burned on livestock to indicate ownership. Over time, the meaning of "brand" evolved to represent the unique identity and reputation of a business or product.
The word "stretching" comes from the Old English word "streccan" which means "to extend" or "to reach out". It implies the act of expanding beyond current limits or boundaries.
