YORKSHIRE, ENGLAND, February 22, 2013 /24-7PressRelease/
-- Brand extension is the practice of using the leverage of a well-established brand name to launch a new product or service in a different (but related) category. An example is Bic extending their product range from pens to razors - different products but within the 'disposables' category. The advantage of brand extension is that companies do not have to be dependent on their original product or service and therefore can adapt with the times.
Tempest Elite Marketing
has thrived during the economic downturn with a 28% increase in profits during the final quarter of 2012
. The firm attributes their success to a growing need amongst UK companies to add value to their brand whilst generating measurable customer acquisition.
Following news last week that clothing retailer Republic is to be the fourth major UK retailer this year to go into administration, Tempest Elite Marketing suggests that businesses unwilling to extend or develop their brand will continue to suffer in the current economic climate. The MarketingWeek article 'The Secret to Brands Living Forever' argues that failing businesses initially created their problems by restricting themselves to one sector which eventually became obsolete. The article gives the example of HMV, the most successful high street music retailer of the 20th century, failing to extend into digital media until it was too late for them to corner the market.
Tempest Elite Marketing
MD Qaysar Bhatti believes that direct marketing enables brand extension. "Although it may not strictly involve launching a new product, direct marketing extends the brand because it can reach a different market and connect with the public in a new way. Person to person communication creates a human connection with the brand, so a great brand ambassador will become synonymous with the brand. Our representatives are not 'hard sellers', instead we look for genuine people who can be honest and upfront about the service. In the long run we believe this will improve our customer retention as well."
Tempest Elite Marketing believe that direct marketing strategies allow the brand to stay in close contact with its target market, allowing consumer feedback to influence extension strategies. The company Brand Extension Research reports that brand extension cannot succeed without 'fit' - whether the categories of the new products are considered acceptable by consumers. Tempest Elite Marketing believe that by constantly engaging with customers, businesses are able to make more informed decisions about extending their brand. "From feedback our representatives report, our clients learn which categories are deemed acceptable by consumers, and discover which services or products customers would like to see from their brands. This saves companies both time and money - resources which judging by recent news, no business can afford to waste." adds Qaysar Bhatti, MD of Tempest Elite Marketing.
Tempest Elite Marketing provide cost-effective solutions for national clients to increase their brand value. The Yorkshire-based firm intends to open new UK markets by the end of 2013.http://www.tempestelitemarketing.co.uk/