Growing a brand is no easy feat.
Just ask any of the vast majority of entrepreneurs who have tried and failed to break into their chosen market with a new product, service or brand.
Any brand that has successfully found its footing in the market, has earned a favourable reputation, otherwise known as brand equity.
This equity provides successful brands with leverage. Some use it to increase their prices while others use it to expand outside of their originally chosen marketplace.
The latter is known as a brand extension strategy.
If you what to learn more about brand extension and how to develop one with top examples of successful brand extensions and brand extension fails, then this article has you covered