Successfully Extending Your Brand
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A webinar on the steps to develop a far-reaching brand system prepared for and facilitated on behalf of AudioSolutionz
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Successfully Extending Your Brand
- 9. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 9 Reason #1: No Meaningful Market Need (Demand) § Addressing the need is not profitable Underlying Components: § No need; difficult to create need § SaRsfactory soluRons already exist § The unmet need is too niche Track plant growth and watch an enRre growing cycle in seconds! Demand Supply Brand Relevance
- 11. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 11 The Latency Effect “If I had asked customers what they wanted, they would have told me a faster horse.” −Henry Ford § Customers are omen unaware they even have a parRcular need (latent) § Customers may be aware of a need, but have trouble arRculaRng it (tacit) § Some of the most successful new products and brand extensions in history were not inspired by an ar9culated need None of these products addressed a widely recognized problem that any of us had
- 12. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 12 Importance of Precision “If you don’t know where you’re going, any road will take you there.” −Lewis Carroll § Big problems and challenges are omen comprised of smaller component challenges—each of which has different ideal soluRons § Performance—Is it about producRvity? Accuracy? Throughput? Speed? § Convenience—Is it about speed? Ease? Simplicity? Portability? How can a 9-hour soluRon solve the problem of dinner preparaRon taking too long?
- 13. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 13 Beyond Problems …. Opportunities “EffecRve innovators don’t wait for problems to arise. They fix what isn’t broken and improve things with no apparent deficit.” −Dennis Stauffer, Thinking Clockwise § Uncovering opportuniRes that are not inherently problem-solving in nature requires a different approach § It’s less about asking customers what they think/want… § It’s more about observing what customers actually do— “and connecRng the dots” Consumers weren’t exactly sikng around thinking to themselves, “Gee, if only I had a tablet…”
- 14. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 14 Smokeless Cigareues… “produced a flavor and a smell so offensive that it lem users retching…” Reason #2: Uninspiring Product or Service Solution (Supply) § “Flavor of the Day” offering Underlying Components: § SoluRon not aligned with need § Lack of imaginaRon/creaRvity § “Side effects” or other drawbacks Demand Supply Brand Relevance
- 19. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 19 EBay selling goods at fixed prices made no sense for the brand or to consumers… EBay Express was a confusing and contradictory concept Reason #3: Lack of Brand Relevance Underlying Components: Demand Supply Brand Relevance § Base brand “baggage” § Lack of credibility § Inconsistent persona § Contradictory price/value relaRonship
- 21. PROPRIETARY AND CONFIDENTIAL SUBSECTION TITLE 21 Illustrative Dimensions / Axes Categories Spices Seasonings AppeRzers Main Entrees Side Dishes Segments Toddlers Young Kids Tweens Young Adults Teens Price Points Entry Value Mid-Price Luxury High-End Occasions Breakfast Snack Mini-Meal Dinner Lunch EmoRons MeditaRve Calming Relaxing SRmulaRng Energizing