What are factors that can affect the success of brand extens

What are factors that can affect the success of brand extension?

Solution

A brand is an image of a company’s product. This is because of brand the company gets reputation or goodwill in the market.

Factors:

1) Quality of product: The company should not compromise with quality. There should be quality awareness among all staffs within the organization. If it is maintained, customers can get quality product or service what they want.

2) Research of development: This is the practice of continuous improvement. This may be in the field of production, distribution, customer care service, etc. If everything is perfect, customers would be loyal to the company.

3) Proper marketing scheme: Getting in touch of customers is the way of gaining trust; it removes any sort of misunderstandings, grievances, queries, etc which ultimately gives customer satisfaction and brand value.