Economics and Business
ISSN 2775-9237 (Online)
Published: 05 June 2020
Brand Extension Management: Analysis of Industry Trends
JungKook Lee, Richard Widdows
Indiana University Purdue University Columbus, Purdue University
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Keywords: Brand Extension, Hospitality, Hotel marketing
Incumbent traditional brands have an initial advantage over new entrants to a market. With traditional brands, marketers have spent many dollars and many years to establish brand awareness and build equity. Building and managing strong brands is considered to be one of the key drivers of success in the hospitality industry. A brand extension strategy is followed when a company uses an established brand name to introduce a new product. This practice has been widely used by a variety of firms to introduce new products. This study views the brand extension from the hotel industry by conducting qualitative research and contributes to research and theory on brand extensions by developing a model in the hotel industry.
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