Are there any Boundaries in the Virgin Brand name?

SUBMITTED BY:PIYUSH SAGARPGP01012IIM SIRMAUR

STRATEGYGet into Categories where consumer needs are not well met and do different things to satisfy consumers

PIONEERING VENTURES

BRAND EXTENSIONS

Brand Extension Advantages Facilitate new product acceptance :Improve brand imageReduce risk perceived by customersIncrease the probability of gaining distribution and trialsIncrease the efficiency of promotional expendituresReduce cost of introductory and follow up marketing programsAvoid cost of developing a new brandAllow for packaging an labelling efficienciesPermit consumer variety seeking

Provide feedback benefits to parent brand :Clarify brand meaningEnhance the parent brand image Bring new customers into the brand franchise and increase market coverageRevitalize the brandPermit subsequent extensions

Brand Extension Disadvantages Can counter or frustrate consumersCan fail and hurt parent brand imageCan succeed but cannibalize sales of parent brandCan succeed but diminish identification with any one category Can succeed but hurt the image of the parent brandCan dilute the brand meaningCan cause the company to forgo the chance to develop a new brand.

BRAND-PRODUCT & ANSOFFS GROWTH MATRIX

DIVERSIFICATION STRAEGY:

LEADERSHIP

ADVRTISEMENTS

ADVRTISEMENTS

SOCIAL MEDIA

DISCLAIMERThis presentation has been created by Piyush Sagar during the PGP Brand Management course taught by Prof. Sameer Mathur at IIM Sirmaur.