Explain some of the challenges that marketers may encounter while creating a brand extension marketing plan. What challenges did you encounter while creating your BEMP assignment?
According to Kopp (2010), there are many challenges that marketers face while creating a brand extension marketing plan. Challenges marketers can face are things such as harming the parent brand, minor increases in sales, having potential
product cannibalization, and brand dilution. According to Kotler (2016), brand dilution occurs when consumers start thinking less of a brand and no longer have interest in the brand. The challenges that I faced while creating my BEMP assignment, was creating a specific price, and making sure this product would possibly sale within the target markets. Also, another challenge I faced with this assignment was conducting the thorough research to make sure demographics, psychographics, and etc. were entailed. Conducting thorough research to possibly ensure that the extended brand would strive in the market required detailed analysis.
Consider some of the lessons a company that you are familiar with (or from the article) learned when extending its brand? What were some of the lessons you learned while creating your BEMP assignment?
According to Kopp (2010), Apple originally developed Mac computers and extended their brand with different products. For a company to become successful
while extending its brand there should logical association between the original product and the new product (Kopp, 2010). There are many lessons that I have taken while creating my BEMP assignment. I have learned that BEMP if successful can be long term and can be very profitable. A brand extension plan when done right can potentially increase your customer base, can reach new target
markets, and gain new business contacts.
Did the company (that you are familiar with or from the article) experience any surprises?
Were there any surprises for you while creating your BEMP assignment?
According to Kopp (2010), Apple was highly effective in developing the brand. They were very successful. While developing my BEMP there were quite a few surprises, as developing a BEMP was quite new to me. Conducting he proper research on the psychographics, the right demographics, and etc., price, the right product to use to extend, and etc. were all the surprises.
What would you suggest that the company have done differently when extending its brand? If you had your BEMP to do over again, what might you do differently?
I would not suggest Apple to do anything differently. Apple has been quite successful with developing new products amongst its brand. This company still extends it brand continually. This company has products such as the iPod, iPad, and iPhone (Kopp, 2010). If I had to do my BEMP over again I would make sure
