Brand Growth Strategies

According to the text, there are four strategies to brand growth:

1) New Brand Strategy – this option is administered if the company introduces a new brand name and new product class. Johnson & Johnson Services, Inc employed this strategy with their "Family of Companies" which cater to consumer health care, medical devices and diagnostics, and pharmaceuticals. (Johnson & Johnson)

2) Brand Extension Strategy – this option is administered if the company has an existing brand with a new product class. The Snickers brand extended its signature product from an off-the-shelf candy bar to offering frozen ice cream bars. (Tauber 2004)

3) Fighting/Flanker Strategy – this option is administered if the company has a new brand and an existing product class. This strategy can be found when a company offers their current product at a discount price under a different label name such as Walmart's "Great Value" products.

4) Line Extension Strategy – this option is administered if the company has an existing brand and an existing product class. This is the most commonly used strategy as in the case of my Chevrolet Malibu LT car. Vehicle makers employ this strategy by offering a variety of models to their existing brand of sedans, trucks, or luxury vehicles.

References

Johnson & Johnson Services, Inc (1997 – 2011). Johnson & Johnson: Celebrating 125 Years. Retrieved 4 December 2011 from http://www.jnj.com/connect/about-jnj/company-structure

Kerin, Roger A. and Peterson, Robert A. (2007). Strategic marketing problems: Cases and comments (11th ed.). Upper Saddle River, NJ: Prentice Hall.

Tauber, Edward M. (2004). Brand Extension Research: The Innovator of Brand Extension. Retrieved 4 December 2011 from http://www.brandextension.org/types.html