Research On The Brand Extension Strategy Of KT Jewelry Company

Over the past ten years, the development of China’s jewelry industry has entered a stage of rapid development, both maturing industry, and gradually mature consumer market, the growing ranks of employees, or industry gradually standardized, progressive people’s consumption concept, all jewelry industry for the future development of the foundation. With the improvement of sustained economic development, people’s income levels, quality of life, the pursuit of consumer jewelry unabated.KT jewelry company by a name without a pass small jewelry processing pl ant, the development of today collection of jewelry design, processing, sales and maintenance as one of the industry covering the whole province of specializ ed jewelry company. In the past ten years has been rapid development. Today th e market outlets in the province of dozens and Kunming market oriented. In the face of fierce competition in the jewelry market, while sales of traditional gol d, platinum, emeralds and other old product reaches a certain, increasingly s lim profit margins, the company is experiencing a bottleneck. And in recent ye ars become a new force of multicolored jewelry industry, is rapidly developing. In order to win a good market position, seize new opportunities, KT jewelry co mpany intends to expand new business, but the creation of a single new brand, t o quickly capture the market and expand its influence is not easy, so it is impor tant brand extension strategy has been adopted for many enterprise development one of the strategies. Since Yunnan has a special geographical location, is linke d bridgehead in Southeast Asia, Southeast Asia and countries rich in colored ge mstones, combined with Yunnan itself has a wealth of multicolored mineral dep osits, Kunming is the national jewelry trade center. Therefore, the company de cided to take the brand extension strategy launched multicolored jewelry products to occupy more space in the consumer market and expand profits.This paper reviews the methods of foreign and domestic brand extension of basic research literature on the use of theoretical research, market research and empirical analysis combining more comprehensive discussion of the practical application of the corporate brand extension strategy. Yunnan on the status of the jewelry industry analysis, market analysis multicolored, KT jewelry companies implement brand extension motives, conditions and Porter’s five forces analysis of the feasibility of extending the brand come. Then develop a single brand extension strategy plan, marketing strategy and brand extension through market research results. However, we must recognize the brand extension is a double-edged sword, it should continue to adjust the brand extension strategy, while extending the brand extension risk aversion according to the actual situation. I hope our other small jewelry enterprises in brand extension to provide a reference.