FMCG brand extensions strategy and consumer buying behavior – An empirical study in Odisha region

Abstract

Corporate decisions in managing brands are always influenced by market characteristics. The companies are constantly innovating newer marketing strategies to stay ahead & reap more benefits. In case of FMCG segment brand managers are applying popular approach of extending the successful and established brands. This research paper seek to provide an answer to the factors that influence brand extension strategies in case of FMCG segment and also tried to verify the influence of mediating variables like age, income, gender, education, profession and family size etc. The research is an in depth descriptive and empirical study aimed at finding out the influence of various factors like Perceived Risk, Similarity, Reputation, consumer innovativeness, Perceived quality and brand concept consistency in case of FMCG segment. The study is based the primary survey of 250 consumers across Odisha region about their choice and preferences of FMCG segment and their extensions. In this study the over all effect of brand extension strategies in both already extended parent brand and hypothetical extension of parent brands are examined.