Difference between a line extension and brand extension

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Reference no: EM133224029

Assignment:

Victoria runs a store that sells sustainable clothing and household items called The Victorious Home. Business has been strong and she is looking to expand from her brick-and-mortar store on Queen Street West in Toronto to more e-commerce so that she can reach a bigger audience. Along with this, Victoria will launch a new line of candles as part of her product offering, which I something she currently does not have on offer.

Typically her customers have found her by word of mouth and she has a high percentage of repeat customers who appreciate the quality and sustainable value of her products. By ramping up her e-commerce business, Victoria estimates that she will be able to at least double her sales within six months...but knows that it will take some work to reach a new audience. She has never done e-commerce before and her only on-line presence is a simple website with some photos of the store, location, contact info and hours. She also has an Instagram account that features her products which has 2,000 followers.

The typical target for Victoria's store are 25 - 45 years old, with about 70% female and 30% male. They tend to live right in Toronto, either downtown or in the surrounding neighbourhoods. They value sustainable and high quality products and are willing to pay a premium for them. Victoria has just hired you to help ramp up her on-line presence, reach a broader audience and support the launch of her candle product line. She will need a strong website, social media guidance and some marketing/advertising tactics in order to grow her business as she intends to.

1. Victoria wants to expand to candles but is looking for more ideas.

2. List 2-3 other possible brand extensions that could make sense here for Victoria to expand her business and her customer base and briefly explain why they are worth considering.

3. While Victoria has an established look and feel for The Victorious Home, she does need help refining its position in the market as she looks to expand her audience and become more digital.

4. Write what you think would be an appropriate positioning statement for Victoria's store.

5. As Victoria looks for growth opportunities for the brand, explain to her what the difference is between and a line extension and brand extension.

Reference no: EM133224029

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