Mike Dir-FlT is a high-performance, microfiche, polyester fabric that moves sweat away from the body and to the fabric surface, where it evaporates. Student Discussion Activity. A product line extension is the launch of a new product in a product category where the brand already sells products. Five (mostly rejected) ideas for Metro expansion you've ... Brand Extension Strategies You Need Know Line Of Extension. In line extension a current brand name is used to 1,000+ Best Hair Product Line Names - Starter Story And not just a name, but a creative and descriptive name that will make your hair product line stand out. 900+ Hair Extensions Business Name Ideas and Suggestions Javed Kamal So, you decided to jump into the hair extension business and looking for hair business names to inspire and help you come up with a good name, right? A hierarchical structure of portfolios would start at the level of the product line (or product group or division), proceed through the product mix of one SBU to the mix of several SBUs, and . To do this . Companion product extension A gap that could only be filled by a company that is known solely for making dental cleaning products. When a brand is launched in a different form, it is line extension. The case of Thai Tuna is a good example of the fifth product strategy alternative. Product extension is the use of an established brand name for a new product in the same product category as an existing product line. At the point when a similar brand is utilized to dispatch an item in an alternate manner, it is called line expansion. Curls & Cair: This catchy name is fun to say and easy to remember! Great Ideas for Teaching Marketing has been developed as an alternative to long case studies. Products that do not have a strong brand might be good in quality and therefore, may be able to achieve market share just through word of mouth and other publicity modes. It's easy to realize that Line extension and brand extension are all forms of product extension, but what makes the difference is the line of . For example, Amul milk extended to Amul condensed milk and Real juices extended to real juice concentrate. Product-line extensions can be effective ways to test-market product improvements and at the same time address emerging segments. You can easily search from any product by keyword, category, or custom filter with the brand's product database, a searchable catalog with over 475 million products from Amazon. The extension option is not always optimal, but it should be part of most strategy and new product discussions. 18 Insane Brand Extensions (2 Were Huge Successes) Usually off-the-wall brand extensions fail miserably. 4. Developed to act as a scorecard for new product ideas, the matrix includes your customers . According to customers needs, change in existing . The line extension contributes a lower unit margin and partially cannibalizes sales of the original product, but also broadens the market, causing sales to develop more rapidly. For instance, you could create a new type of the same shampoo but . Twitter. A line extension is the simplest form of brand extension. Hundreds of activities, discussion exercises and tools are provided on this website, with new content added regularly. New Product development is a complex process. 19. When a manufacturer of golf clothes for men added a line of golf clothes for women . The new product sells alongside the existing products. Product Line: A product line is a group of related products under a single brand sold by the same company. Hairstyling and cosmetology is a nearly $50 billion dollar a year industry and its growth … Continue reading "331 Hair Salon, Hair . Product line Extension. In the expansion, the item will be a slight variation to the current ones. Flavors Distribution is one of the classic "4 Ps" of marketing (product, promotion, price, and placement, a.k.a. Line and Brand Extensions. However, many new ideas (and consequently new products) aren't actually new but rather are versions of products and services already available. The competition is fierce for hair salon owners, hair stylists, cosmetologists, and barbers making an effective slogan or tagline essential in successful marketing. Research and Development: R&D department is a formal department of the business that includes experts with the sole responsibility to conduct market research and analysis and generate new ideas. New Product Ideas From Internal Sources. A new product may be the result of an improvement to an existing product or product line, a lower-priced option, or a brand-new product. A simple yet stylish name for a line of ultra-moisturizing products for textured hair. Learn how the types of new products differ and explore the . Examples of new goods include mass-market microwaves and Keurig one-cup gourmet coffee machines. Line-Extension Strategies : Line-Filling Strategies : Expand distribution channels. . Learn how the types of new products differ and explore the . "Deciding which products are core is the sticky point. A "new-to-the-market product" is a good or a service that has not been available to consumers or manufacturers in the past—for example, the PowerSki Jetboard. Thailand Tuna. 11. BRAND EXTENSIONS • Using an existing brand name to promote a product in a different category, is Brand Extension. A new product may be the result of an improvement to an existing product or product line, a lower-priced option, or a brand-new product. Typically line extensions are introduced with a positioning, which explains how the line extension addresses a consumer need, touts functional or emotional benefits, provides `proof' that the benefits will be delivered, shows how the product is unique, and, finally, asks consumers to try. Whair: Combining "Wear" and "Hair," this quirky name is both memorable and unique. When brand extensions win over loyal brand consumers with a new product, it is a win with lasting benefits for the brand, including increased revenue and greater name recognition. product in the same product class or to a product category altogether new to the company, it is called horizontal brand extension. This strategy is high risk, high reward, though a strong enough brand image can keep the risk in check. From risk management perspective, brand extension poses more risk than line extension. A product extension keeps your brand consistent while giving you new ways to earn profits. The product line length within a company keeps changing. Category remains constant whereas in brand extensions product category is a variable. Actually, DevaCurl works really well for this #winning. Mike Grinnell has worked in the design and construction industry since 1998, and relocated to DC in 2001. The Product Line Extension can be in the form of new colors, forms, shapes, sizes, flavors, packaging, and ingredients. LinkedIn . PSA, you can use DevaCurl to maintain curly hair extensions. Review the activity below or download the PDF student worksheet. The product line length within a company keeps changing. Its ease of use makes it ideal for beginners. Ideas may be contributed by scientists, professional designers, rivals, customers, sales force, top management, dealers, etc. What is a product line extension? Benefits: A 100% natural and renewable material that's grown and produced in the U.S., soy wax is the fastest-growing segment of the candle industry. For example, coffee that is sold in bags that is extended to the same product in a resealable can. Term: Fixed Term - 6-12 months (with the possibility of extension)Type: Full-TimeWhen: No deadline. The third sequel to a popular action movie has just been launched. Research shows that consumers are more receptive to brand extensions when (1) the company appears to have the expertise to make the product [McDonald's was not thought as credible as a photo-finishing service], (2) the products are congruent (compatible), and (3) the brand extension is not seen as being exploitative of a high quality brand . Examples of a Product Line Extension. Companies sell multiple product lines under their various brands. Dyson and the Airwrap When Dyson made the surprising shift into the hair tools industry with the premium-priced Supersonic hairdryer, they enjoyed instant success. Oh! On the other hand, Line extension is the use of the same brand to launch and market a new product in the same product line. Generally, there are three price bands which exists in any market - Lower priced products, middle priced products and premium products.One brand concentrates on one price brand.. introducing new flavors and selling different sizes of packaging). The strategy can be as simple as shifting the form of a successful product, for example, taking a popular children's game online, or as complex as adding an entirely new product line to the company's offerings. Idea generation Concept development and testing Idea screening Brainstorming 12. New products generally differ from a product line extension, which are products that are slightly different to the company's existing array of offerings. We'll start with some broad ideas to get your head in the right space to start your search and then get into more specific resources closer to the end of the post. When a business with a well-known image launches a new product under the same brand name, it is said to be implementing a brand extension. Product Line: A product line is a group of related products under a single brand sold by the same company. See The 10 Worst Brand Extensions Currently On The Market. The term sub-branding is The term sub-branding is being hijacked and mis-used here to refer to different models or varieties within the brand's home market, which have been around for centuries. 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