d to differentiate those goods or services from those of competitors. A brand signals to the customer the source of the product-and protects both the customer and producer from competitors who would attempt to provide products that appear to be identical.By developing strong and consistent images, well-regarded brands generate hidden assets-or brand equity-that give them distinct advantages. Brand equity is a form of wealth that is closely related to what accountants call "goodwill".A brand is a promise made to its customers and shareholders. Promises that are kept yield loyal customers and produce steady streams of profits. Brand equity is initially built by laying a foundation of brand awareness-eventually forming positive brand images-and is ultimately maximized by high levels of brand loyalty.Brand image is everything. It is the sum of all tangible and intangible traits-the ideas, beliefs, values, prejudices, interests, features, and history that make it unique. A brand image visually and collectively represents all internal and external characteristics-the name, symbol, packaging, literature, signs, vehicles, and culture. It's anything and everything that influences how a brand or a company is perceived by its target constituents-or even the individual customer. Brand image may be the best, single marketable investment a company can make. Creating or revitalizing a positive brand image is a basic component of every business-and lays a foundation on which companies can build their future. With this in mind, it is critical to the welfare of the business that a line extension idea is efficiently evaluated-success being assured-before takeoff.It is obvious why line extensions can be so tempting and are so popular, but too often the additions to the line do not receive the careful management essential. Product line extensions do serve as a fine decoy, but up they are often not as charming. Many times line extensions confuse ...
