New York University Construction Business Strategies Discussion
ANSWER
1.1 Brand Name and Logo
Brand name and logo play a pivotal role in the branding landscape. They are among the most recognizable elements of a brand and serve as its visual and verbal identifiers. In the context of upward brand extension strategies, the brand name and logo of a parent brand are essential assets that can significantly influence consumers’ purchase desire through brand association.
The brand name encapsulates the essence and reputation of the parent brand. A well-established and reputable parent brand brings a wealth of positive associations to a sub-brand. These associations can include qualities like trustworthiness, quality, and reliability. Consumers tend to transfer these positive perceptions from the parent brand to the sub-brand, forming a strong foundation for purchase desire. For instance, if a consumer has had a positive experience with a parent brand known for its reliability, they are more likely to be inclined to try a new product or service under the same brand umbrella.
Similarly, the logo of a parent brand serves as a visual cue that triggers brand-related emotions and associations. A recognizable and respected logo can evoke a sense of familiarity and trust in consumers. In the context of upward extension, this logo can be a powerful tool for generating purchase desire. It signals to consumers that the sub-brand is part of the same trusted family, reinforcing their confidence in the new offering.
Research supports the positive impact of the brand name and logo on upward brand extension. Hypothesis 1 suggests that a successful parent brand’s name and logo have a positive effect on the upward extension strategy. This is supported by empirical studies demonstrating that consumers are more likely to accept and desire products or services from sub-brands when they have a strong positive association with the parent brand’s name and logo.
In conclusion, the brand name and logo of a parent brand are critical assets that can significantly enhance consumers’ purchase desire through brand association in upward brand extension strategies. These elements serve as carriers of the parent brand’s reputation and values, creating a foundation of trust, familiarity, and positive associations that can positively impact consumers’ perception and preference for the sub-brand. Hypothesis 1 aligns with existing research findings, emphasizing the importance of a strong parent brand identity in the success of upward brand extension strategies.
QUESTION
Description
1. Relatedness evaluation
500-word literature review: In brand upward extension Strategy, how does the association between sub-brand and parent brand increase consumers’ purchase desire through brand association? Write around these four points: brand name and logo; perceived quality; Consumer’s brand familiarity with the parent brand, and Consumer’s brand trust with the parent brand.
1.1 Brand name and logo
300-word literature review: A brief description of the ‘brand name and logo’, including the definition, advantages and other basic factors. Focus on describing the positive role of ‘brand name and logo’ in the brand’s upward extension strategy, particularly the positive effect on the relationship between the parent and sub-brand. The content of your literature review needs to be able to relate to hypothesis 1.
H1: The name and logo of a successful parent brand positively affect the brand’s upward extension strategy.
1.2 Perceived quality
400-word literature review: A brief description of the ‘perceived quality’, including the definition, advantages and other basic factors. Focus on describing the positive role of ‘perceived quality’ in the brand’s upward extension strategy, particularly the positive effect on the relationship between the parent and sub-brand. The content of your literature review needs to be able to relate to hypothesis 2.
H2: The good perceived quality of the parent brand has a positive effect on the upward extension strategy of the brand.
1.3 Consumer’s brand familiarity with the parent brand
400-word literature review: A brief description of the ‘Consumer’s brand familiarity with the parent brand’, including the definition, advantages and other basic factors. Focus on describing the positive role of ‘Consumer’s brand familiarity with the parent brand’ in the brand’s upward extension strategy, particularly the positive effect on the relationship between the parent and sub-brand. The content of your literature review needs to be able to relate to hypothesis 3.
H3: The higher the consumer’s familiarity with the parent brand, the easier the brand’s upward extension strategy is to be accepted by consumers.
1.4 Consumer’s brand trust with the parent brand
400-word literature review: A brief description of the ‘Consumer’s brand trust with the parent brand’, including the definition, advantages and other basic factors. Focus on describing the positive role of ‘Consumer’s brand trust with the parent brand’ in the brand’s upward extension strategy, particularly the positive effect on the relationship between the parent and sub-brand. The content of your literature review needs to be able to relate to hypothesis 4.
H4: The higher the consumer’s trust in the parent brand, the more easily the brand’s upward extension strategy is accepted by consumers.
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