For further development, it is normal for dental chair enterprises to obtain greater benefits by extending their brands after they have the strength. Dental chair enterprises should extend their brands. They can expand their product categories horizontally, dig deeper into their original brands, and extend more subdivided sub brands.
Our industry is in the stage of relying on brand awareness competition, and there are not many stable leading brands in the market. When an enterprise has accumulated enough awareness and reputation in the original market segment, it can carry out rational brand extension.
When an enterprise extends its brand, it should consider the following factors: the core value of the brand, the correlation between new and old brands, the characteristics of the industry and products, the market capacity of the product and the market environment in which the enterprise is located, the purpose of the enterprise to develop new products, the financial resources and promotion capabilities of the enterprise, the market competition pattern and market maturity, etc.
Dental chair
Among them, whether the core value of the brand can include extended products is the most important factor to determine whether the brand can be extended. It should be noted that for a mature market, due to the existence of the dominant brands, the chances of the latecomers to surpass the competitors will be much smaller if they adopt the brand extension method.
At present, there are more opportunities to develop multi brands in China's market than in previous years, although they are not mature. First of all, some enterprises have gained a certain amount of original capital accumulation in the development process, and have certain strength to launch new brands; Secondly, due to the large scale of some market segments, enterprises can occupy the market by cultivating a new sub brand, which not only avoids the situation that the core value to a certain extent brought by brand extension cannot be fully inclusive, but also can form the advantage of category occupation first, build the leading brand of this market segment, and improve the barriers to entry.
When developing multiple brands, enterprises should also avoid the temptation of short-term interests and fall into the error of opportunism. Enterprises must carry out brand extension and establish sub brands from the perspective of continuously improving existing brand assets.
