This report discusses brand extension strategy for Amazon Company in the electric automotive sector. It covers methodology, findings, target market, analysis of new market, and competition.
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CW2 Brand Extension Report
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Executive Summary Amazon Company is planning to launch the new products in electric automotive segment. Company is expanding its business to enhance the existing growth rate of company. Table of Contents
INTRODUCTION.................................................................................................................................4 MAIN BODY........................................................................................................................................4 Methodology.....................................................................................................................................4 Findings.............................................................................................................................................4 CONCLUSION.....................................................................................................................................6 REFERENCES......................................................................................................................................7
INTRODUCTION Brand extension is defined as launching product in the new market sector. This report is based on the Amazon Company in respect to its barnd extension strategy. In this report methodology will be discussed to achieve the best level of brand extension strategy. New market will be analysed associated with the brand extension strategy will be discussed in this project. Trend will be introduced. Competition associated with the new product launch will be discussed in this project. Different aspects related to brand extension will demonstrate in this project. MAIN BODY Methodology In order to achieve the best level of brand extension strategy secondary research has undertaken over new market sector has been done in this project. Amazon Company is planning to enter in the electric automotive sector to expand the growth of company. To collect information related to new market company has gone through internet sources, books, magazines, researches and other such information sources. Findings Existing brand and brand value Amazon Company is currently one of the biggest brand associated with the business environment at the global level. Company has been expanded at the global level. In many sector company is catering its services and products at the global level which has supported the organisation to deliver the maximum level of business outcomes against the operations entertained by company (Baek, Nam and Chang, 2017). Company is trying to expand in the electric automotive sector that would support company to achieve more effective outcomes against the business operations entertained by the company. Automotive sector is among the emerging sector all across the globe. In the future people are going to refer only the automotive cars and vehicles that can meet the needs and requirements of the people at the global level. The products are pure and full of environment friendly component that would reduce the pollution and improve the environment. Amazon Company is utilising the brand identify prism to achieve the best level of brand extension project. Brand identity prism
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Brand identity prism suggested by the Kapferer involves various elements that can denote the overall value and beliefs of brand. This brand identity prism comprises with different factors that demonstrate the brand in the best way possible. The Amazon Company is comprises with different sector that demonstrate the physique of the brand (Shah, Hashim and Omar, 2018). Company has a diversified personality which has allowed the brand to cater the need of different market segments. The culture of company is innovative which would allow the organization to deliver the best level of automotive products in target market. Company has established the strong relationship with all internal and external stakeholders associated with the business operations of organisation. Other components like self image and reflection are also favourable for the organisation that would support the brand in achieving the best level of outcomes against the brand extension practice of company. Target market The secondary research entertained by the Amazon Company over the automotive sector demonstrates different factors that would support the organisation to deliver the best strategies to achieve the massive success in new market. The research indicated that the future is the electric segment in the automotive sector. For all types of automotive products electric vehicle will be the preferred choices of all customers. In the existing time also people all across the globe prefer only the eclectic automotive products that can meet the needs and requirements of customers at the global level (Cai and Mo, 2019). Target market is huge for the company as the brand has already expanded at the global level which has allowed the company to sale its product at the global level. The research has also indicated that company would use demographic segmentation strategy. On the basis of the income of people company will target to only the middle class and upper class people in market. With the support of social media and other promotional tools company would position its product in market. Analysis of new market New market can be analysed with the support of Pestle Analysis and Ansoff grid. PESTEL Analysis The political situation is favourable for the Amazon Company as the government also support the electric automotive segment. Company needed to cope up with all laws. Society also prefers the electric automotive segment. Technology would support the company in
delivering the best level of products. Environment free component of electric automotive will support the company. Ansoff grid Amazon Company is utilising the market development strategy part of the Ansoff model. This would support the company to launch its electric automotive products in the market. This model has guided about this strategy to boost the growth of company. New product Amazon Company is aiming to enter into the electric automotive sector to boost the growth of the company. This sector is among the emerging sector at the global level and would support the company to achieve the massive success in market (Chanda and Moharir, 2020). As the organisation already been contained an effective brand value which would support the organisation to engaged with the customers at the global level. As the sector is very competitive which allowed and required to carry strong brand image in order to gain success in sector. Company will sale electric cars at the initial level. Competition Amazon Company will receive the massive competition from companies like Tesla, Tata and many other. This sector is very intense and competitive so Amazon required forming the better strategies and approaches to achieve the massive success in the new market. As the brand value of company would support the organization to gain the strategic focus of all potential customers associated with the sector. CONCLUSION Amazon Company is planning to enter into new market sector called as electric automotive. The sector is highly competitive which required company to form the best level of strategies to achieve the massive success in market. Company will sail the products at the global level.
REFERENCES Books and Journals Baek, S. K., Nam, S. H. and Chang, B. H., 2017. Feedback effect of brand extension in cable networksestablishedbyparentnewspaperbrands:applyingexpectation disconfirmation theory.Journal of Media Economics.30(4). pp.173-190. Cai, Y. and Mo, T., 2019. When independents favor far extension: Self-construal, brand extension, and brand concept consistency.Social Behavior and Personality: an international journal.47(1). pp.1-12. Chanda, R. S. and Moharir, N., 2020. Cult brand extension influence on brand equityand customer loyalty.Indian Journal of Ecology.47(spl). pp.96-101. Shah, N. U., Hashim, N. M. H. N. and Omar, N. A., 2018. Credence and personal factors as a direct cause of brand extension evaluation: Does perceived fit matter.Malaysian Journal of Consumer and Family Economics.21(1). p.19.