The impact of Brand Extension on Brand Personality. Caterpillar and Dissertation

The impact of Brand Extension on Brand Personality. Caterpillar and Burger King - Dissertation Example of Brand Extension of Burger King 34 Table 2: Success of Brand Extension of Caterpillar 35 Table 3: Model Summary of Burger King 36 Table 4: ANOVA and Coefficient Table of Burger King 36 Table 5: Model Summary of Caterpillar 37 Table 6: ANOVA and Coefficient Table of Caterpillar 38 Table 7: T-Test Table 39 Abstract This research investigates the impact of brand extension on the personality of a brand and for this purpose; two companies are selected to conduct this report. One of the companies is Caterpillar and the other is Burger King. This Impact of brand extension can be either negative or positive and this research test out the positive impact or negative impact of the brand extension of these two brands on their brand personality. The main objective of this research is to find the brand extension impact on the brand personality of Caterpillar and Burger King in such a way that each dimension of brand personality compared with the variable of brand extension. The approach that us ed in this research is Quantitative Approach and data is collected with the help of the Survey Questionnaire. The sample size of the research is 50 and respondents are selected from two areas of London that are Edgere and Wembley. The results are tested with the help of SPSS and Regression analysis. It is concluded from the result that the brand extension has a positive impact on the overall brand personality of the any company. The two companies taken in this research have a positive impact on their brand personality due to their brand extension. Chapter One: Introduction 1.1 Background The strategy in which companies bring in products to the marketplace, with which they can make use of an existing brand name, is called brand extension. Brand extension of an existing brand has possible... The paper tells that the strategy in which companies bring in products to the marketplace, with which they can make use of an existing brand name, is called brand extension. Brand extension of an existing brand has possible advantages based on customer awareness and opinions concerning the existing product that is sell under that particular brand name as evaluated to introduce a new brand name. Brand extension is a very important brand approach to make the most of the value of brand influence. Brand extensions and brand personalities have become the most essential research areas since 1990 in the field of brand management. We try to tell the effect of the interaction between brand personality and similarity on brand extension evaluations. The customer’s evaluation for the brand determines the success of that brand. The success of the brand is very unsure and unsuccessful brand extensions can harm the parent brand that results in the significant loss of brand equity. The use of well-known brand names for launching the new product is one of the most commonly in use brand strategies. The brand extensions that are successful, depends on the customers perception of fit or similarity between the new extension and the parent brand. The studies reveal the relations between the parent brands and the extension groups: factors that affect the parent brand will affect the extension as well. Similarly, factors that control the extension group will affect the parent brand. Customers-evaluating brand extensions may modify their core values about parent brands, which may lead to a stronger or weaker brand positioning