Brand extension is a strategy to bring new products and services to the market by utilizing an existing brand name. This allows the company to develop new market opportunities while taking advantage of the brand's recognition and credibility. NTT West is developing next-generation communication technologies and services using the brand name "IOWN (Innovative Optical and Wireless Network)".
Specifically, IOWN is a new network technology that combines optical communication and wireless communication, which enables high-speed and low-latency communication. This is expected to be applied in fields such as remote medical care, self-driving cars, and smart cities. NTT West is realizing these new technologies through IOWN and promoting the digital transformation of society as a whole.
In addition, the brand extension of IOWN will enable NTT West to provide new services and solutions in addition to its existing communication services. This will allow the company to meet the diverse needs of its customers and maintain its competitiveness. Furthermore, the use of the IOWN brand name will emphasize NTT West's technological capabilities and credibility and maintain brand consistency.
In this way, brand extension is an important strategy for companies, and NTT West's IOWN example can be said to be one of its successful examples. By maximizing the power of brands and creating new market opportunities, companies can achieve sustainable growth.
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