Brand Extension Strategy Research Of XG Joint Venture Company

Brand extension is a kind of brand strategy,brand extension has been applied in many enterprises locally and abroad,and has a positive impact on the development of enterprises.Brand extension plays the crucial role to the development and expansion of an enterprise.The electric power industry as a national production and life relevant industry in our country has made great progress in the recent years,the entire power industry is facing upgrade thanks to the rapid development of power industry.As a Sino-US joint venture,XG company has a solid base both in the market and in the technological innovation capability.This article takes the XG joint venture company as the research object,carries on the analysis to its brand extension strategy.In this paper,the corresponding research relates to brand extension theories which have been used as the basis,according to the analysis of current situation of XG brand,XG company has encountered two major problems that lead to the need for brand extension.The first came out as a unsynchronous problem between enterprise development and branding management.The second hits a bottleneck problem regards to the development in traditional leading industries.According to the relevant market survey,we have made a deep understanding of orientation in regard with customer concern and the trend of the market environment that will impact on the XG brand extension.It also investigates the rationality of brand extension of XG company from two aspects:the investigation of the extension competitiveness and the feasibility of brand extension.Through the market survey,we can see that the brand extension strategy of XG joint venture company is feasible,and the market prospect is relatively positive.Based on this basis,the specific strategy of brand extension of XG joint venture company rolls out.In terms of the integration of product and service and correspond price,it is realized by extending the strength of the products with the existing products,and realizing the value-added of the brand and the value-added of the business.As for the sales promotion strategy,we should attract customers and improve their satisfaction by combining the competitive price with the extended after-sales service.Stands in extending brand promotion strategy,we should leverage the strategy with the brand joint effect and the existing advantages by means of digital promotion.In terms of brand competition strategy,quality assurance and brand extension management mechanism are adopted to ensure that XG joint venture can occupy its niche in the market.