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S. Afr.J. Bus. Manage.2015,46(1)97Research on brand extension feedback effects based on customer equity J. Shaw, J. Zhang* and K. Chen School of Management, Harbin Institute of Technology, Heilongjiang

How to fill out research on brand extension

How to fill out research on brand extension

1. Start by identifying the target market for your brand extension. Determine who your current customers are and if there is a demand for a new product or service in that market.
2. Conduct market research to understand consumer trends, preferences, and needs. This will help you identify potential opportunities for brand extension.
3. Analyze your brand equity and reputation. Evaluate how your brand is currently perceived and if a brand extension will align with your brand image.
4. Develop a clear brand extension strategy. Define the goals, objectives, and positioning of the new product or service. Determine how it will relate to your existing brand and differentiate itself in the market.
5. Create a comprehensive research plan. Identify the key research questions, methodologies, and target sample size. Decide whether qualitative or quantitative research methods are more appropriate for your objectives.
6. Execute the research plan by collecting relevant data and information. This can involve surveys, interviews, focus groups, or secondary research.
7. Analyze the data collected and draw meaningful insights. Look for patterns, trends, and opportunities that will inform your brand extension decision.
8. Use the research findings to refine your brand extension concept and strategy. Incorporate customer feedback and preferences to adapt and improve your offering.
9. Test the brand extension concept with a smaller sample size or pilot launch. Evaluate customer response and make necessary adjustments before a full-scale launch.
10. Monitor and measure the success of your brand extension. Track sales, customer satisfaction, and brand perception to determine if your strategy is effective and if any further modifications are needed.

Who needs research on brand extension?

1. Companies looking to expand their product or service offerings.
2. Brands entering new markets or targeting new customer segments.
3. Organizations facing increased competition and seeking to differentiate themselves.
4. Businesses with strong brand equity and customer loyalty.
5. Entrepreneurs and startups seeking to leverage existing brand recognition for new ventures.

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