Part One: Impact of Brand Extensions on Brand Value In today's competitive market it is vital to have a strong brand name. When a company develops a strong brand for a certain product category, it starts thinking about brand extensions, which will help the company capture new and unexplored market segments. According to Kotler (2003) a brand extension occurs when a company uses its well-established parent brand to introduce new products in similar or different product categories. In other words, the parent brand gives rise to a brand extension or sub-brand. According to Mitchell et al. (2013) there are two main categories of brand extension strategies. The first is the vertical brand extension strategy which is used to introduce a new product or service with different quality or price, but in the same category as the parent brand. The second is the horizontal brand extension strategy which is used to introduce a new product or service into a product category that is similar to the parent brand or completely different. Consumers tend to be more receptive to a newly extended professional....