Because identical twins are not identical names
Although it may seem the same, they are not. Ask your parents. Even as infants, which could distinguish them, and how they grow, are the differences have become clearer. For this reason, we do not give twins with the same name.
It would have been in the business world, this idea seems to carry as a basis for a common approach to the mad-branding that different products have different brandsdifferent names. However, the only thing that this common sense that too often in the hope that the risk of fraud and ignored the possibility of failure.
Brands are like rubber bands test test
All heard of a company, as a force. "Hey, these are the people of cheese." Yep. For many years, Kraft and cheese were synonymous. It 'was a corporate brand would be the situation, competitors had seriously compromised the pressure on companies in brass wasContained in their trash. They were not. Like many companies blessed with strong brands, began to think of their brand strength was invincible and that any product made under his banner would dominate their markets simply because of the name. Necessarily started with jams, jellies and mayonnaise among other things.
Truth numerical powerful brand extension strategy
Ohio-based Smucker's owns 35% of jams and jellies in the market. The power is 9%. Hellman MayonnaiseMayo has 42% market share. Force by 18%. The work plan for achieving the rule is not entirely as expected. Despite their dominance refers to the cheese market, Kraft was the status of the player too little in the other categories. To prove his strategy, has brought a great brand for the life of all things to all people in the few real winning products for use.
Why do not all work for everyone?
In your family, you can be to have the Smart. If you had brothers and sisters,May be "welfare state", the "rebel" either one "sport" too. And always, it seems that these attributes with a person throughout their life cycle stick, often regardless of whether the change.
In Japan, Honda is known as a manufacturer of motorcycle jack-in car. In America, is a company, the car is in motion. Despite the fact that the company is equally prolific makers bound by both, the two different markets, Honda, Either / Or. A name, aProduct. Burned-in and branded for life. This is because motorcycles and motor vehicles are two categories of different products. It shows that the conquest of most different categories does not work with their own brand. Rather, companies need to expand into other product areas, or a first product in that area, we want to do this with the help of a strong brand identity as the foundation of marketing strategy. Or that, or create new product lines that somehow relate to old productswhich companies cheeses have a number of pre-cheese and cracker snacks. What's with Mini Ritz Ritz sandwiches, Kraft could have easily done by focusing the angle of marketing of the cheese in the cracker.
So what do you do with a brand, after creating one?
To defend those responsible for the brand, brand integrity and build on it. Just as Barbie dolls for decades, while the Ninja Turtles and Cabbage Patch dolls came andwent. The Barbie brand recognizes the niche it fills the industry of toys, dolls with interchangeable clothes. Nothing. Of course, refreshing a brand is absolutely necessary throughout their useful life. Barbie is a way to do this built-in changing its product to styles of clothing. As times change, to do this Barbie and Ken wardrobe. But this is only a possibility, a mark also remains over the years. Survey any industry, and discover that long-termsuccessful brands have at some point had to reinvent themselves on the road, like car today in the early stages of transition to alternative sources of energy. This is the same thing that made the magazine successful. Carve out a niche market leader in the Mini and then defend it by banking on their uniqueness and further differentiating from competition, not duplicate.
If this is the case, why companies are trying to extend a brand?
Becauselaunching a completely new brand is very risky and expensive. Often times, initial results of brand extension are positive, but the initiative commonly begins to lose ground and takes some of the overall brand strength with it.
Why creating a new brand is better for business than extending one.
In New Zealand, there is one Airline Company, but two airline brands. Air New Zealand is about top-class service with all the frills. Freedom Air, on the other hand, is the airline for the Aware of the budget. The two brands operate successfully and independently, which can serve the parent company of two distinct markets for air travel.
Less really is better
A niche brand can offer the number one brand for potential wider, but offers something much better sustainability. In the long term, as the brand is a specific type of product or service is synonymous, and more and more people are turning to you for the product orService ... and will continue to do so because they believe that they can provide a special quality.
A jack of all trades, master in reality is not. So if you are a teacher, or want to be doing so. Was. Just not for everyone.
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