The Blake Project, the brand consultancy behind Branding Strategy Insider, delivers interactive brand education workshops and keynote speeches designed to align marketers on essential concepts in brand management and empower them to release the full potential of the brands they manage.
If you are in the process of building your brand globally, especially if your brand is in its infancy in some regions or countries, here is something else to watch out for with brand extensions. If a particular extension, especially one less central to the brand’s promise, has a strong presence in a market place before you have a chance to establish the brand essence, promise, and core meaning in that market place, it could be much more difficult to position the brand correctly. It would be better to withhold that extension from the market place until the core brand meaning is established there.
Brand Extension Questions
You should answer these questions as you consider each possible brand extension:
• How “big” is the category or segment?
• Is the category or segment new?
• Is it growing?
• Is there “room” in the category or segment for a new brand?
• Do you have or can you acquire the assets and competencies necessary to compete successfully in the new category or segment?
• Have you identified a profitable and robust business model for competing in the new category or segment?
• What type of competitive reaction might you expect as your brand enters the new category or segment?
• What are your brand’s primary benefits?
• Does the brand uniquely own those benefits?
• Do those benefits matter in the new category?
• Do they matter enough vis-à-vis other (competitive) brands’ benefits to make your brand preferable, at least among some sub-segment of the category?
• What impact would entry into the new category have on your brand’s essence, promise and equity?
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