James Dyson would rather forget the companies foray into washing machines. They had a technology that left clothes dryer out of the wash cycle, but they could not make the brand extension profitable. Callaway started by making premium golf clubs, but now they make umbrellas, watches, towels, etc.
In the process of creating a brand extension, it’s important to refer back to your original brand to make sure there is consistency. Your brand extension should never conflict with or contradict the message of your parent brand. If you want to try to implement a brand extension strategy for your business, https://1investing.in/ remember these key ideas to avoid the same failures. A brand extension can be both horizontal and vertical depending on the brand positioning. Many products have objective measures that differentiate them from the products of their parent brand, but they can also have subjective measures too.
Google recommends using Chrome when using extensions and themes. Connect and share knowledge within a single location that is structured and easy to search. The best way to talk to relevant consumers in your market, is with fast and reliable consumer insights from Attest. But Fender has adapted to that over the years, meaning we can still use their phenomenal products.
This is a great brand extension assuming the earbuds have great audio quality. Fender introduced its first headphone, the Fender Pro In-Ear Monitors, in 2016. This was their first consumer electronics product; this was a long-term strategic move from Fender executives. They acquired Aurisonics a year previous to design top quality products in-house. Now they offer the Puresonic line of earbuds in both wired and wireless format.
- As part of the Customer Research Team team, Nick takes a hands-on role supporting customers uncover insights and opportunities for growth.
- If you already have a loyal customer base, a customer franchise extension is a good option to boost sales.
- Surveys and focus groups will help you track both brand awareness and brand perception.
- Note that we cannot create extra properties in the categories.
- Starting with its popular Mac computers, the company has leveraged its brand to sell products in new categories, as can be seen with the iPod, the iPad, and the iPhone.
Brands that have an existing product that’s highly regarded and known for its distinctive qualities can use this reputation to expand into new sectors. Originally a humble Brazilian flip flop brand, Havaianas has grown their brand to become a globally-recognized must-have summer accessory. Think Google Maps, or products like Google Docs, both used by millions of people on a daily basis. These are brand extension examples that show you that thinking out of your product category can be a great idea.
Examples of lifestyle brand extensions
All these brand extensions are built on the original brand distinction of Tide’s synthetic detergent formula. Tide is a brilliant example to turn to for brand distinction extension examples. Tide’s key brand distinction is its status as the world’s first synthetic detergent. Established as a “washing miracle,” the brand has grown to become the world’s best-selling detergent brand through a series of strategic brand extensions. A brand distinction extension can be used by brands who have built a reputation for selling a unique product.
How Brands Can Cash in on the «Joyconomy»
However, James’ son, Jake Dyson, had his venture trying to reinvent lighting as his father had reinvented vacuum cleaners. He thought that you could make lighting products that were more efficient, longer lasting, and human-centric. Jake and a team of 12 set out to design and produce the lighting products he thought was missing in the world. James Dyson eventually had a vacuum that was far easier to empty; instead of replacing a dusty bag, you simply removed a cannister and dumped the dust in the garbage. Dyson could not strike a deal with Hoover to license his technology, most likely because the bag market was a 500 million dollar industry, at the time. Without the need for bags, Hoover and Dirt Devil’s profits and recurring revenue would get sucked away.
Brand Style Guide Examples for Visual Inspiration
The brand is known for its bold and innovative approach to business and its commitment to sustainability and social responsibility. The company started as an online bookstore and has since grown to become one of the largest e-commerce and cloud computing companies in the world. From the information shared above, it’s very easy to realize that Brand extension has a couple of benefits. Though, there are some Brand extension approaches and strategies that you should factor in to make it successful. Starbucks – It is known for its coffee-based beverages, but now it’s easy to get Starbucks energy drinks at the supermarket. That is a Brand extension example in a related product line.
If you already have a loyal customer base, a customer franchise extension is a good option to boost sales. You can use the trust you’ve built with your existing customers and market new products to them. There are many examples of brands who have used product extensions as part of their brand extension strategy. Carlsberg is one example — the multinational brewery group offers their standard Danish pilsner in bottles, cans, on tap, and in many more forms. It’s easy to spot these type of brand extension examples all around you, from your neighborhood coffee chain to your weekly washing powder. Keep reading to learn more about how brand extensions work, and what you can learn from them when it comes to scaling up your business.
A line extension alters your product to allow you to market to new demographics, without radically changing your core product. For instance, if you sell rugs, you might want to expand your range to include different sized rugs and different colors. A line extension is one of the simplest brand extensions you can create. A line extension simply offers a product in a slightly different variation to your original product, such as size, taste, or packaging design. When customers see the Dyson brand, they know they can expect forward-thinking, efficient and high quality products (regardless of the industry).
I am sure personal audio companies have approached Fender to put their logo on white label headphones. Fender must have turned them down to save their respected brand name for a product that would be up to their high standards. However, that is not good enough for these industrious founders. They have their sites on displaying the entire customer relationship management (CRM) and marketing automation sectors. Marketing tech, or MarTech, has been a powerhouse of growth, spitting off companies like Hootsuite, HubSpot, and Marketo. It has attracted big players like Adobe and Salesforce who want a piece of the action.
Once both product lines are selling, both benefit from spending on activities to build brand awareness, such as sponsorship, short video ads, and influencer shout-outs. The costs can be divided between all the product lines under the brand. Google restructured to be Alphabet in 2015 so they can get into product categories like medical devices, longevity, and space exploration without the Google name. Some product categories just don’t make sense for brand extension, and Alphabet knows that. Google is an example in this article is because they has used brand extensions more eagerly than any other company. Gmail, GDocs, Google Chat, Android, Made by Google, Google+, and many many more all try to leverage the Google name to find the next big revenue source.
Maybe a Cosmopolitan executive in 1999 was visited by the ghost-of-Christmas-future, because predicted the massive decline in revenue and profit the publishing industry would soon face. This wasn’t even a license play; they opened a new division called Cosmo Yogurts. The executives were very committed category extension to this questionable strategy. What distant product would connect your brand to your tribe? Take a page out of Snoop’s book and smoke it (pun intended). Calvin Cordozar Broadus Jr., better known as Snoop Dogg, has been a songwriter, music producer, and actor but he is known for his rap.
Coca-Cola – If you thought Coca-Cola only sold carbonated drinks, then you are wrong. The company got into a new Business of selling Coke water Branded Dasani, Smart Water, Vitamin Water, and Dasani Flavors. Companion Products – There are some cases where the new product is a natural companion of the parent product.
