“Fellow travelers. It s a hot one here in georgia today and i m having having my exploding. Coca cola right now but i don t care because it s degrees and i m dying here all that cokes good oh well it s got that sweet cola flavor and the tick on the back your throat and it s ice cold so i just got it from a vending machine mmm. I love this coke.
I love my coke. And maybe you like coke maybe like cherry coke or diet. Coke or coke. Zero.
Sugar or. The new orange vanilla coke which i ve actually never had before i just bought this for the first time and well you have to realize this there s all these different cokes out there. And what coke has done is they ve done. What s called a brand extension.
They ve taken a famous brand that you already know and love. And you know you i remember watching baseball games. With my grandma and listen to him on the back porch and stuff. Like that sipping.
A coca cola with her all those traditions. All those memories. All those happiness about coke. And now we put it another another product that brand name we can extend the brand name to a new product.
Because what s cool. If you have a brand extension you can use the goodwill that that original brand has developed and helped promote a new product. So this new orange vanilla coke can come out and have a better chance to succeed because 8i. Know coca cola i m gonna buy that versus if they called it for anila or anila.
What s that oh it s an orange vanilla soda from the coca cola company uh huh. But orange vanilla coke ii. I ll buy that what you doing brand extensions. But you have to really realize this sometimes they can go too far right i mean how many times you ve seen something like huh.
I never really thought of it of a cereal and oreo cereal maybe they went too far there. And so we have to think about is what we re doing brand extensions. There s a few kind of criteria you need to think about and it starts with making sure that the brand extension fits with the core attributes of that product. So coke.
What is coke okay. It s a cola flavored drink. It s bubbly. It s caught you know carbonated drink.
It s it s very sweet you know it s usually cold. It comes in it comes in that certain bottle. So could this is product fit with that well we look at it s okay. It s the right color cuz.
Look it looks the same color mean if i took this label off. You wouldn t know if this was coke or orange. Vanilla coke. Until you tasted it and so.
We know what this tastes like we know what this feels like we re saying. Hey does this have those attributes now..
I ve never had an orange vanilla coke. So. I m gonna have the first time. Let s see if this one explodes.
Oh. No i m good maybe a little see they both have the fuzzyness. So don t throw them in your backpack. Hey.
Another thing. They both do kind of the same. It s got the same a little bit of cola flavor. It s like one of my kids took their dreamsicle and like left it in my coke.
And it melted overall does it work does it fit with the core core things of real coca cola yeah. It does it fits basically it s got the the cola flavor it s got the coolness a little bit of the tingle in the back of the throat. So in that respect it does have a lot of the core attributes that fit with the original brand. So that s working the thing is though it s not just the core attributes that are actually the physical address of a product or the certain tantras that go with the service.
You re also looking at what is the perception that people have for that brand. So coke cannot do a clear cola. Okay. It doesn t work it had to be called something else.
Because coca cola for me. It s a brown soda. That has a cola flavor. Now that s very similar with the product attributes are but that s how i perceive it okay.
It s a certain thing that i want and we have to make sure that these brand extensions fit into what our customers perceive our brands to be so mcdonald s could come out with a fancy burger. Which you know it s a burger you eat it it s got ketchup it fits with mcdonald s overall product attributes. But for me my perception is this a brand like i don t see mcdonald s as an expensive sandwich place so in that respect it doesn t fit with a brand extension. So if a guys wanted to have fancier food maybe they start a different restaurant than selling fancy food at mcdonald s itself.
Now another thing you have to look look at when you re doing a brand extension you have to kind of look at in terms of is the brand or is the new brand far enough away from the original brand that we re not going to caramelize. Things right so that s why when diet coke came out i mean you have diet coke versus normal coke the flavor is very different right i mean it s a dip. Very much a different flavor also one is with calories one is no calories. So there s enough differences there that hey we have plenty of space here we re not gonna cannibalize each other.
But what about diet coke and coke zero sugar huh are those distance enough away well you ll see the marketing for diet coke versus coca cola zera sugar is very different i could go for different audiences the flavor is different how they sell it is different so they re trying to differentiate it but the actual product itself isn t that different so we really got to think about is how do we keep it far enough from way other products. So it doesn t cannibalize it because the thing is we don t want to do too. Many brand extension. We don t wanna get too far because then what becomes the actual brand right i mean think about ncis.
There s like five different ncis is back in the day. You had the csi shows. And there was csi shows in las vegas and in miami. And in new york and cybercrime and all this stuff you re like wait.
Which was the original one. What is this really supposed to be and sometimes that gets lost. So you got to be careful to make sure that the original brand isn t lost and all these extensions. If you go too far because sometimes you do go too far like the orange vanilla coke hey it works but for me when i think coke.
I think more the cola not a fruity flavor. Because affluent fruity flavored drink from the coca..
Cola company to me. Is fanta. So we have to kind of figure. These things out how far do we go because you don t want to do what s called brand.
I lucien brand. I lucian s when you ve got too many things out there that really takes away from that original brand like i was talking about before. And the thing is you might see it sometimes. There s products that just don t make sense.
And i always like to give this example. I give it in class all the time if you think about it i always ask i hate do you who uses lip balm. They raise their hand who likes cheetos they raise their hand like great you like lip balm. You like cheetos.
Let s make a cheetos lip balm. And yes. There was a cheetos lip balm at one time because you think about it you re always looking your fingers getting on that and all that little cheesy goodness softens. Their after you eat a whole bag of them.
And you re like oh. It s so nice down. That i can have them taste on my lips. All day long wait a minute.
I think you had brand. I lucian ear. I think you went too far because if you look at cheetos. What is the core a trait of a cheeto.
It is a snack food you ingest it you eat it what s the key attribute of lip balm its lip protection those two don t go together. It didn t really work it s like look. I m supposed to eat the cheetos don t let it just sit on my lips and a lip balm. I m supposed to leave with my lips.
Not like want to eat it so you have these issues out. There. So you really got to be very careful. Just yes brand extensions can be super.
Helpful to get your product out there to get it seen also to get you know shelf space out there because look. My coca cola sold so this orange vanilla coke will probably sell too. But also you have to worry about it have i gone too far have we done too many i mean you got coke diet coke you know coke zero sugar coke with lemon coke with lime cherry coke for orange vanilla coke. But never go by itself.
And we could go on and the caffeine free versions. Right and just go on and on and on and sometimes you re like you know what maybe we gone too far there. So you really got to be careful with that but i just want to give you an idea of the idea of what a brand extension is and the idea of this brand. I lucien when companies go too far and have you seen companies they ve gone too far with their brands like that done too many things like this doesn t make sense.
Why are you doing this put it down the comment section below. So we can make some videos about products that did go too far so we can help people learn from their mistakes. Anyway. I will show the best and buy from super hot like super hot like i m actually gonna drink more of this because it s super hot savannah georgia.
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“Coca Cola led to Diet Coke and Cherry Coke. Pepsi led to Pepsi Max and Wild Cherry Pepsi. But what about Cheetos flavored lipbalm? There are a number of ways firms can expand their product lines and using a well known brand name helps promote a new product. These are called brand extensions. When a company puts their brand name on too many products they may run into Brand Dilution.nFilmed in nCopyright Mark Wolters 2019 nFilmed in Savannah, GeorgianTopic 10: Branding nn#marketing #branding #brandextensionnTopic 10: BrandingnnYouTube Advice Playlist: nhttps://www.youtube.com/playlist?list=PLuAz-nxZVHKCgTMK9qJVoRnnx5D1EdmUj nnMarketing Training Playlist: nhttps://www.youtube.com/playlist?list=PLuAz-nxZVHKA3XLEqGREc66eVBRho7wQFnnI hope that these marketing u0026 business videos can help you learn more about business and help you succeed in class or in the business world. And yes, this is the same Mark Wolters from the YouTube travel channel Wolters World. nnFind More Marketing Videos u0026 Course Information at http://www.woltersworld.com/courses nor on our future site http://www.professorwolters.comnnFollow us on Facebook: http://www.facebook.com/professorwolters nnSubscribe to Our Other YouTube Chanel “Wolters World Travel u0026 Culture”nhttp://www.youtube.com/woltersworld”,
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