Marketing Management I week 3 Assignment.

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 Marketing Management I



week 3 Assignment:

PROMPT

Using one of the brands displayed in The Brand Extension Assignment lecture, please develop a concept for a NEW brand extension that makes use of the existing brand equity (note: this must not be a line extension.) This extension could be targeted to the same segment.

Explain your rationale for producing this extension (max 200 words).

  • Fit
  • Leverage
  • Opportunity

Briefly describe the marketing mix for this extension (max 100 words).


Bose is well known for its audio equipment, primarily  headphones, speakers and sound bars. They have been able to establish themselves in the audio segment and is loved by its customer base. Bose can utilize its brand equity by extending into the studio recording equipment segment.This new segment targets those individuals who compose and record music for commercial use, mostly and need to do at a high quality rate. Bose’s equipment are a logical fit to this segment with their versatile, best quality and market accepted products, it provides an edge to the recording studio or house in comparison to their competitors by leveraging the associations with Bose brand. This also aids an opportunity for the recording studio or segment to pile on to Bose’s brand equity to build themselves a name in the segment and give them a competitive advantage. The identifi ability of associations with Bose will facilitate more response from the market and probably, drive sales in the right direction.

The core benefits, audio quality, reliability and peace of mind, associated with the product along with place and promotion will help create value for the customer by delivering on the perceived benefit. This new product or service in recording segment will provide a bundle of benefits, not just attributes. The 3 elements in upper boundary, product, place and promotion can help chalk up pricing to tap into the revenue stream. The associations with Bose will create a perception in customer’s mind of the value or cost that comes with the product. 























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