Why Is Brand Extension Important?

Why Is Brand Extension Important?
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  1. Brand extension is important for the following reasons:
    1. Increases the visibility of brand as with new products they become operational in new markets.
    2. With the introduction of new product that is in line with the brand message, the brand image is also enhanced.
    3. Since you have an existing brand, brand extension will reduce the cost of developing a new brand.
    4. Gaining traction for the new product becomes easier with brand extension.
    5. Marketing and promotion efforts are comparatively less needed since a brand identity already exists.

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