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Brand Extensions
The strategy of leveraging a well-known brand to launch new products in related or new categories, aiming to capitalize on the brand�s existing recognition and loyalty.
Implications
The practice of expanding a brand�s product line by introducing new variations or products under the same brand name.
Example
Example: Starbucks extended its brand by offering packaged coffee and beverages in grocery stores, expanding beyond its coffeehouse roots.
Related Terms
Different from product diversification, which may involve creating entirely new brands, brand extensions leverage the existing brand name for new products.
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