čtvrtek, února 16, 2006

Limits and opportunities in brand innovation and brand extension exercises

Illustration photo,

Recently I had the chance to work on several new product/brand extension launches which taught me quite a few lessons which I'd like to share with you over the next few days.

Lesson 1: Never extend the brand if its identity isn't well defined

Successful brand extension doesn't come in family packs. There's nothing wrong with intuitive marketing but if you plan to spend some time and money on the brand extension exercise you'd better minimize the uncertainty of the outcome (to a feasible level). The key question to ask here is how does your brand generate value - and I mean not only value for the customer but also for you as a company. You can capture the whole picture of your brands consumer value through strategy canvas - a useful and simple tool suggested and developed by