Does the company have the assets required to compete in the new category? An example of brand dilution is Jeep. Nestle and Girl Scout Cookies are both known for sweet chocolate treats, so a Nestle Crunch Girl Scout Cookie Candy Bar the top winner among voters makes perfect sense. When Tide laundry detergent developed the Tide To Go instant stain remover pen, it was a great move. Reactive Re-branding Sometimes, companies are forced to re-brand due to an event that is so serious, the existing brand must be changed. Font— The lettering and typography used is also very defining as a brand. How about products that had an unsuccessful re-brand? There are many reasons why a company might choose to re-brand a product or service, but each of these reasons falls into one of two categories: proactive or reactive. Goldberg, Gerald Gorn, and Richard W.
Beyond that, you must plan the what and the how of the extension very carefully. Co-branding is not a new marketing strategy, and you see examples of co-branding frequently in the marketplace. It is possible a brand extension is not successful, and worse, that is damages the parent brand in some way. Your brand identity is like a character in a story—if a brand has depth, it has many layers to unpeel through extensions. A new audience - Often a company wants to re-brand in order to appeal to a new audience. Think of Coca-Cola and Disney; their fonts are iconic, and again, those brands are known often by font alone.
What are some potential costs? This allows the extension to share the resources of the brand, without causing potential harm to the brand name. With the message being that their juice is so fresh, it is just like sticking a straw in an orange. It has thankfully been discontinued. It's a little unclear why they thought they would be successful at selling perfume, considering most women do not want to be associated with the smell of lighter fluid. It is the only service that helps simplify and speed the process of recruiting and hiring of college grads. Some studies show that negative impact may dilute brand image and equity. It leverages the depth of the Souplantation brand identity, enabling customers to experience choice in a whole new way.
Category extensions must be able to leverage a new category. What product re-brands can you name that had a successful re-brand? Do you have the marketing budget to adequately promote it? The new offering should fit with the existing brand identity. It was the first new product to carry the Cola-Cola trademark since 1886, and a huge risk to Coke's brand equity. A poll of 11,000 Adweek readers voted from a list of 10 — and Zippo The Woman Perfume yes the company that makes lighters that use that smelly fluid — at least that is how I remember the company topped the list. Although there are few works about the failure of extensions, literature provides sufficient in-depth research into this issue. Mytasca is here to change that. By following this three-pillar-model, companies will be able to become successful.
Eds , Marketing for Expanding Europe, Proceedings of 25th Annual Conference of European Marketing Academy, pp. Brand extension can be as natural as offering an original product in a new form. A successful brand message strategy relies on a congruent communication and a clear. Otherwise, the customer feels no incentive to purchase the product. Another example of a brand that has many line extensions is Lay's potato chips. The moderating variable is a useful indication to evaluate.
Is it attached to a well known brand name? Going back to our Heinz example, by launching Heinz mayonnaise, a new product was created in a new category. But The Yellow Pages didn't throw in the towel; they just re-branded their product. Remember, brands aren't always consumer products. Other brand extension failures include Zippo, known for lighters, and Harley-Davidson, known for motorcycles, expanding into the women's perfume market. Vertical extensions - This strategy has the reputation of going backwards.
For example, Nike partnered with basketball superstar Michael Jordan, and produced a product that was not only the most popular in its market, it was a product Nike could sell for a premium. The attraction of levering the brand name is powerful — often irresistible, when the alternatives are considered. Any extension that could cause customer confusion should be scrapped. Instead, consumers think of the smell of motor oil and sweat. Others co-brand because the two brands complement each other. In spite of Aaker and Keller's 1990 research, which reports that prestigious brands are not harmed from failure of extensions, some evidence shows that the dilution effect has great and instant damage to the flagship product and brand family. Measures of specific associations with the extensions suggested a number of processing models that may mediate these results.
There are dozens of reasons a brand might want to partner with another brand. Measures of liking for the extension, liking for the parent brand, and measures of the association following extension were collected. A strong brand name is an invaluable asset; managers must know when to exploit it, when to protect it, and how to tell the difference between the two. A company with a successful slogan wouldn't change it -- and one without a successful slogan would do whatever it takes to get one. So a new brand extension will automatically benefit from the familiar name and existing brand promise.