Brand Extension as Informational Leverage
提出品牌延伸是企业利用已有品牌声誉缓解新产品市场信息不对称的理论机制，证明多产品垄断者通过品牌延伸能以更小的价格扭曲引入新体验品，为品牌资本概念提供理论基础。
The marketing literature refers to the concept of brand capital and provides empirical evidence that firms with a large stock of well-established brands have an advantage in introducing new products. This paper develops a theory of brand extension as a mechanism for informational leverage in which a firm leverages off a good's reputation in one market to alleviate the problem of informational asymmetry encountered in other markets. It is shown that brand extension helps a multi-product monopolist introduce a new experience good with less price distortion. Thus, the paper provides a theoretical foundation for the concept of brand capital.