Research And Application On Influencing Factors Of Heyday Brand Extension Based On Structural Equation Model

Brand extension is one of the most common and preferred strategies used by enterprises in their marketing strategies².because the content of the enterprise's core marketing strategy is the brand strategy,and b as one of the commonly used brand marketing strategy of brand extension,often because of its the main cost is low,there is a certain consumer cognition and so on characteristics,adopted by enterprise more,as the main brand strategy,It can often be seen in the marketing strategy of enterprises.With the expansion of enterprise brand scale,a variety of marketing strategies will be adopted by enterprises,and why is brand extension the most favored strategy of enterprises?Brand extension,to put it simply,applies a well-known brand or a mature brand with certain influence to new businesses or new products.Multiple businesses or products use the same brand at the same time.For example,Haier Group has extended the brand"Haier"from the original single refrigerator brand to washing machines,microwave ovens,air conditioners,water heaters,computers and many other products.This is not only from the perspective of saving advertising expenses and reducing trademark registration procedures to reduce operating costs,but also can fundamentally give new products or new services a starting point for consumers to have a certain degree of recognition.New products or new businesses are beneficial to consumers,but how to maintain this awareness,or how to expand the awareness of consumers?We need to re-understand brand extension from the starting point of positioning theory,here we can understand how to recognize brand extension from the perspective of consumers³.As the most valuable asset of an enterprise--brand,it needs to scientifically manage and expand its influence,so as to make the brand enduring⁴.How we should make consumers recognize a brand continuously is very important.Brand strategy must be coordinated by the leadership of the brand to make a unified strategic arrangement.Specifically speaking,while retaining the original intention,the main content of brand marketing is divided into two directions:one is the essential business management of the brand,which is the"reality of the brand",which is in charge of the Marketing Department of the enterprise;The other is the management of the brand itself,which is the name of the marketing brand,which is responsible for by the brand's public relations,advertising communication,coordination and other departments.In this paper,based on the analysis of brand extension,through the related positioning theory combined with Heyday brand extension marketing strategy for comprehensive analysis,the use of structural equation model to solve the problem of brand extension influence factors to find out the five key factors affecting brand extension:through the Heyday brand characteristics⁵;Heyday brand own advantages;Heyday brand extension correlation factors;Environmental factors of Heyday brand extension;After the extension of the brand's own characteristics of these five factors⁶.Putting forward the marketing strategy suitable for Heyday's brand extension needs to start from the above five key elements.At the same time,the theoretical connection case analyzes the logical relationship between these five elements,from finding out the relationship between these factors,to find out the most suitable marketing strategy for their own⁷.Innovation points:1.Study on solving the influencing factors of brand extension with structural equation model in brand extension problem.2.Through the Heyday brand characteristics⁸;Heyday brand own advantages;Heyday brand extension correlation factors;Environmental factors of Heyday brand extension;Based on the analysis of the five factors of the brand's own characteristics after the extension,the framework of five elements of brand extension is created and constructed⁹.Significance of this paper:Taking Heyday brand team as an example,this paper studies and discusses the brand extension marketing strategy of Heyday brand through structural equation model,and explores the influencing factors that Heyday brand should pay attention to in the brand extension strategy,so as to pay attention to the practical problem of the center of gravity bias in the brand extension strategy of Heyday brand in the future¹⁰.The successful application of this method in the Heyday brand is to find an effective and easy strategy model for the brand extension practice,which can be used as a reference for similar brand promotion strategies in the manufacturing industry¹¹.