工業革命以來，人類社會一直奉行線性經濟模式(開採-製造-使用-丟棄)，不斷刺激消費、盲目追求經濟成長，同時卻也犧牲了有限的資源與自然環境，原物料的成本與風險也逐漸攀升，因此近年國際上開始逐漸盛行「循環經濟」理念，強調從產品生命週期的設計階段開始考慮資源的取得、製造、銷售、拋棄等環節，透過可恢復、再生性、產業共生等等設計，以達到零廢棄，也使物質循環過程創造全新經濟效益。
　　目前「循環經濟」已逐漸在台灣展開，但仍屬於萌芽階段，本研究以近年致力於發展環保服務與跨足生技產業的台灣水泥公司為例，目的在於了解如何使企業在循環經濟模式下達成品牌延伸策略，也希望本研究對於推動循環經濟有所助益，讓台灣更多企業投入邁向循環經濟的行列，從新的角度創造對地球更環境友善的商業環境。
　　本研究探討公司在進行品牌延伸時，導入循環經濟概念是否會正面影響消費者對台泥延伸產品的知覺契合度與購買意願，使台泥的品牌權益增加；以及若同時採取聯合品牌策略是否能達到更優越的效果。本文分別進行兩次問卷研究，共回收144份問卷，並利用T檢定進行分析。
　　結果顯示，研究一部份成立，導入循環經濟概念後，消費者產生顯著較高的知覺契合度與購買意願，也為帶來部份的品牌權益提升（其中僅品牌知名度無顯著差異）。研究二為成立，同時運用循環經濟概念與聯合品牌策略訊息，能更進一步強化消費者的知覺契合度和購買意願，也為台泥的品牌權益帶來全面性的顯著提升，因此更有利於在循環經濟模式下進行品牌延伸。

　　Since the Industrial Revolution, companies have adhered to a linear model of value creation (take–make–dispose system), stimulating consumption and pursuing economic growth blindly. Meanwhile, it has also ruthlessly sacrificed limited natural resources and raise the cost and risk of raw materials. As a result, the concept of “Circular Economy” has gradually become prevalent all over the world. Circular economy emphasizes “redesign” the acquisition, processing, and disposal of resources in the product life cycle to reach “zero waste”. With restorative, regenerative and industrial symbiosis design, the circular process also creates new economic benefits.
　　At present, “Circular Economy” in Taiwan is still in its infancy. The case in this study is Taiwanese Cement Corporation(TCC), devoted to environmental protection services and biotech industry. This study explores (1) whether the introduction of circular economy in brand extension will positively affect consumers' perceived fit and purchase intention and increase the brand equity, and (2) whether adopting co-branding strategy at the same time will attain more significant results. There are two surveys conducted in this paper and analyzed by using T-tests.
　　The results indicate that Study 1 is partially supported. With the introduction of circular economy, consumers have a significantly higher degree of perceived fit and purchase intention, and brand equity is partially improved (with no significant difference in brand awareness). Besides, Study 2 is supported by the results. Applying the concept of circular economy and co-branding strategy not only further enhances perceived fit and purchase intention, but also brings a comprehensive improvement in brand equity, which is in favor of brand extension in circular economy model.

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