| Why don't identical twins don't have
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| | as the foundation of its marketing
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| identical first names? Though they may
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| | strategy. Either that or create new
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| look the same, they're not. Just ask
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| | product lines that somehow relate to your
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| their parents. Even as newborns, they
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| | old product line, such as cheese
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| could tell them apart, and as they grow
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| | companies putting out a line of pre-made
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| up, they're distinctions become ever more
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| | cheese and cracker snacks. What Ritz did
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| pronounced. This is why we don't give
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| | with Mini Ritz sandwiches, Kraft could
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| twin babies the same first names.
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| | have easily done by focusing the
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| In the business world, this idea would
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| | product's marketing slant on the cheese
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| seem to carry over as the foundation for
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| | in the cracker.
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| a common sensical approach to
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| | So what do you do with a brand once you
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| branding-that different products need to
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| | have created one?
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| be different brands with different names.
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| | Those responsible for the brand defend
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| However, the only thing common about this
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| | the integrity of the brand and build on
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| sense is that it's all too commonly
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| | it. Just as Barbie dolls have for decades
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| ignored in the hopes of cheating risk and
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| | while Ninja Turtles and Cabbage Patch
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| the possibility of failure.
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| | Dolls came and went. The Barbie brand
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| Overextended brands are like
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| | recognizes the niche it fills in the toy
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| overstretched rubber bands
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| | industry-dolls with interchangeable
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| Everyone's heard of a company called
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| | clothes. Nothing else. Of course,
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| Kraft. "Hey, those are the cheese
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| | refreshing a brand is completely
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| people." Yep. For years, Kraft and cheese
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| | necessary over its lifecycle. Barbie has
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| were synonymous. It was a Corporate
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| | a way of doing this built-in to its
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| Branding with a position competitors
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| | product-changing clothing styles. As the
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| would have been hard-pressed to erode had
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| | times change, so do Barbie & Ken's
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| company brass been content in their
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| | wardrobe. But that's just one way a brand
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| cheesiness. They weren't. Like many
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| | remains strong through the years. Survey
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| companies blessed with strong brands,
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| | any industry, and you'll find that
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| Kraft began to think their brand name was
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| | long-term successful brands have at some
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| invincible and that any product
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| | point had to reinvent themselves along
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| introduced under its banner would
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| | the way-like automobile companies of
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| dominate their markets simply because of
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| | today in the beginning stages of moving
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| its name. So, Kraft began offering jams,
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| | to alternative sources for energy. This
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| jellies and mayonnaise among other
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| | is the same thing that successful
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| things.
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| | magazines do. They carve out a niche,
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| The numerical truth about Kraft's brand
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| | become the leader in it and then defend
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| extension strategy
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| | it by banking on their uniqueness and
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| Ohio-based Smucker's owns 35% of the jams
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| | further differentiating themselves from
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| and jellies market. Kraft has 9%.
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| | the competition-not duplicating it.
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| Hellman's mayonnaise has 42% of the mayo
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| | If this is the case, why do companies try
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| market. Kraft has 18%. The plan for equal
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| | to extend a brand?
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| domination didn't quite work out as
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| | Because launching a completely new brand
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| planned. Despite its dominance in the
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| | is very risky and expensive. Often times,
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| cheese market, Kraft was relegated to bit
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| | initial results of brand extension are
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| player status in these other categories.
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| | positive, but the initiative commonly
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| Their strategy of trying to leverage a
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| | begins to lose ground and takes some of
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| great brand name into being all things to
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| | the overall brand strength with it.
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| all people resulted in few real winning
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| | Why creating a new brand is better for
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| products.
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| | business than extending one.
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| Why doesn't being all things to all
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| | In New Zealand, there is one Airline
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| people work?
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| | Company, but two airline brands. Air New
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| In your family, you may have been the
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| | Zealand is about top-class service with
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| smart one. If you had brothers and
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| | all the frills. Freedom Air, on the other
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| sisters, there may have been the "social"
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| | hand, is the airline for the budget
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| one, the "rebellious" one or the
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| | conscious. The two brands operate
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| "athletic" one, too. And invariably,
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| | successfully and independently of each
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| those attributes seem to stick with a
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| | other, which allows the parent company to
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| person throughout their life, often
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| | serve two distinctly different air travel
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| regardless of whether they change.
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| | markets.
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| In Japan, Honda is known as a motorcycle
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| | Less really is best
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| company that dabbles in cars. In America,
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| | A niche brand may not offer the sheer
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| it's a car company that dabbles in
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| | number potential of a more generalized
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| motorcycles. Despite the fact the company
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| | brand, but it does offer something a lot
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| is equally prolific makers of both, the
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| | better-sustainability. Over the long
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| two different markets have Honda pegged
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| | term, as your brand becomes synonymous
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| as either/or. One name, one product.
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| | with a specific kind of product or
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| Burned-in and branded for life. This is
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| | service, more people will turn to you for
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| because motorcycles and motor vehicles
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| | that product or service...and continue to
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| are two different product categories. It
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| | do so because they believe they're
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| proves that conquering multiple different
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| | getting quality only a specialist can
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| categories with one brand name doesn't
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| | provide.
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| work. Rather, companies who wish to
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| | A jack-of-all-trades really is master of
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| expand into other product areas, or a
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| | none. So if you are a master, or wish to
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| first product area for that matter, need
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| | become one, do it. Be it. Just not to
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| to do so by using a strong brand identity
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| | everyone.
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