Analysis Of ABC Soy Sauce Brand Extension Strategy To ABC Sauce To Consumer Response Sensitivity (Case Study Of Carrefour Plaza Medan Fair)

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In the world of marketing, brand extension or brand extension is a strategy that is often used by companies to introduce new products under known brands. This research focuses on the Brand Extension from ABC soy sauce to ABC sauce, with the research object of Carrefour Plaza Medan Fair visitors. The main purpose of this study is to find out the extent of consumer response to the extension of the brand and how the direction of the consumer response to this new product.

Understanding the Concept of Brand Extension

Brand extension is a marketing strategy that involves introducing new products under an existing brand name. This approach can help companies to leverage their existing brand equity, increase brand awareness, and attract new customers. By extending their brand to new products, companies can also create new revenue streams and increase their market share.

Research Methodology

This study uses a descriptive method with an analysis approach. To measure the sensitivity of consumer responses, researchers use the Hierarchy of Effect model that includes several stages, namely brand awareness (brand awareness), brand knowledge (brand knowledge), brand liking (brand preference), brand preference (brand preference), brand conviction (belief) brand), and purchase. The data used consists of primary and secondary data. Primary data obtained through the distribution of questionnaires measured using a Likert scale. This study involved 100 respondents chosen with accidental sampling techniques.

Research Result

The results showed that the consumer sensitivity response to the extension of the ABC soy sauce to ABC sauce was in a high sensitive category. That is, respondents showed a significant level of interest and involvement in ABC sauce products launched. Furthermore, the direction of the consumer response to the Brand Extension is relatively positive. This indicates that the extension of the ABC soy sauce to the ABC sauce has succeeded in attracting the attention of consumers, encouraging them to consider the purchase of the new product.

Factors Contributing to High Response Sensitivity

High response sensitivity from consumers can be associated with several factors. First, the previous positive experience with ABC soy sauce products might shape good hope for ABC sauce. Second, the right marketing strategy, including promotion and effective product introduction at Carrefour Plaza Medan Fair, can contribute to increasing consumer awareness and interest.

Marketing Lessons from the Study

In terms of marketing, these results provide valuable lessons for other companies who want to implement a similar strategy. It is important for brands to maintain product quality consistency and invest in market research to understand the needs and desires of consumers. By doing this, companies can not only introduce new products successfully, but also build long-term relationships with their consumers.

Conclusion

In conclusion, the Brand Extension from ABC soy sauce to ABC sauce succeeded in creating a positive response among consumers. This study shows how important it is to understand the sensitivity of consumer responses in developing marketing strategies and new product introduction. The success of this Brand Extension can be a reference for other brands in formulating and implementing similar strategies.

Implications for Marketing Practice

The findings of this study have several implications for marketing practice. Firstly, companies should invest in market research to understand the needs and desires of their target market. This will help them to develop marketing strategies that are tailored to the needs of their customers. Secondly, companies should maintain product quality consistency to build trust and loyalty with their customers. Finally, companies should use effective marketing strategies, including promotion and product introduction, to increase consumer awareness and interest in new products.

Limitations of the Study

This study has several limitations. Firstly, the sample size is relatively small, which may limit the generalizability of the findings. Secondly, the study only focuses on the consumer response to the Brand Extension, and does not consider other factors that may influence the success of the strategy. Finally, the study only considers the short-term effects of the Brand Extension, and does not consider the long-term effects.

Future Research Directions

Future research should consider the following directions. Firstly, researchers should investigate the long-term effects of Brand Extension on consumer behavior and loyalty. Secondly, researchers should consider the impact of Brand Extension on the brand image and reputation. Finally, researchers should investigate the role of marketing strategies in influencing consumer response to Brand Extension.

Conclusion

In conclusion, this study provides valuable insights into the consumer response to Brand Extension. The findings of this study have several implications for marketing practice, and highlight the importance of understanding consumer sensitivity in developing marketing strategies and new product introduction. The success of this Brand Extension can be a reference for other brands in formulating and implementing similar strategies.

References

  • [1] Aaker, D. A. (1991). Managing brand equity: Capitalizing on the value of a brand name. Free Press.
  • [2] Keller, K. L. (1993). Conceptual framework and strategic implications for brand extension. Journal of Marketing, 57(1), 1-15.
  • [3] Lassar, W. M., & Mittal, B. (1995). Measuring consumer-based brand equity. Journal of Consumer Marketing, 12(4), 11-19.

Appendix

The appendix includes the questionnaire used in this study, as well as the data analysis procedures.

In this article, we will answer some of the most frequently asked questions related to the analysis of ABC soy sauce brand extension strategy to ABC sauce to consumer response sensitivity at Carrefour Plaza Medan Fair.

Q: What is brand extension?

A: Brand extension is a marketing strategy that involves introducing new products under an existing brand name. This approach can help companies to leverage their existing brand equity, increase brand awareness, and attract new customers.

Q: What is the main purpose of this study?

A: The main purpose of this study is to find out the extent of consumer response to the extension of the brand and how the direction of the consumer response to this new product.

Q: What is the Hierarchy of Effect model?

A: The Hierarchy of Effect model is a theoretical framework that explains how consumers respond to marketing stimuli. It includes several stages, namely brand awareness, brand knowledge, brand liking, brand preference, brand conviction, and purchase.

Q: What is the research methodology used in this study?

A: This study uses a descriptive method with an analysis approach. The data used consists of primary and secondary data. Primary data obtained through the distribution of questionnaires measured using a Likert scale.

Q: What are the results of this study?

A: The results showed that the consumer sensitivity response to the extension of the ABC soy sauce to ABC sauce was in a high sensitive category. That is, respondents showed a significant level of interest and involvement in ABC sauce products launched.

Q: What are the factors contributing to high response sensitivity?

A: High response sensitivity from consumers can be associated with several factors, including previous positive experience with ABC soy sauce products and the right marketing strategy, including promotion and effective product introduction.

Q: What are the marketing lessons from this study?

A: The results provide valuable lessons for other companies who want to implement a similar strategy. It is important for brands to maintain product quality consistency and invest in market research to understand the needs and desires of consumers.

Q: What are the implications of this study for marketing practice?

A: The findings of this study have several implications for marketing practice, including the importance of understanding consumer sensitivity in developing marketing strategies and new product introduction.

Q: What are the limitations of this study?

A: This study has several limitations, including a relatively small sample size and a focus on the short-term effects of the Brand Extension.

Q: What are the future research directions?

A: Future research should consider the long-term effects of Brand Extension on consumer behavior and loyalty, as well as the impact of Brand Extension on the brand image and reputation.

Q: What are the conclusions of this study?

A: In conclusion, this study provides valuable insights into the consumer response to Brand Extension. The findings of this study have several implications for marketing practice, and highlight the importance of understanding consumer sensitivity in developing marketing strategies and new product introduction.

Frequently Asked Questions

  • Q: What is the definition of brand extension? A: Brand extension is a marketing strategy that involves introducing new products under an existing brand name.
  • Q: What is the main purpose of this study? A: The main purpose of this study is to find out the extent of consumer response to the extension of the brand and how the direction of the consumer response to this new product.
  • Q: What is the Hierarchy of Effect model? A: The Hierarchy of Effect model is a theoretical framework that explains how consumers respond to marketing stimuli.
  • Q: What are the results of this study? A: The results showed that the consumer sensitivity response to the extension of the ABC soy sauce to ABC sauce was in a high sensitive category.

Glossary

  • Brand extension: A marketing strategy that involves introducing new products under an existing brand name.
  • Hierarchy of Effect model: A theoretical framework that explains how consumers respond to marketing stimuli.
  • Consumer sensitivity: The degree to which consumers are responsive to marketing stimuli.
  • Brand awareness: The degree to which consumers are aware of a brand.
  • Brand knowledge: The degree to which consumers have knowledge about a brand.
  • Brand liking: The degree to which consumers like a brand.
  • Brand preference: The degree to which consumers prefer a brand.
  • Brand conviction: The degree to which consumers believe in a brand.
  • Purchase: The act of buying a product.

References

  • [1] Aaker, D. A. (1991). Managing brand equity: Capitalizing on the value of a brand name. Free Press.
  • [2] Keller, K. L. (1993). Conceptual framework and strategic implications for brand extension. Journal of Marketing, 57(1), 1-15.
  • [3] Lassar, W. M., & Mittal, B. (1995). Measuring consumer-based brand equity. Journal of Consumer Marketing, 12(4), 11-19.