8 min
Episode 4: The Good and Bad of Brand Extension Marketing is Everywhere!
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- Marketing
Brand extension is hard. By brand extension I don’t just mean adding a second or third product or offering to your business that is an obvious choice. I mean venturing into territory that is a little but different than what you are already known for.
One the one hand, it creates an opportunity to increase your revenue by selling more to your existing customers.
On the other hand, you may be risking whatever good will - or brand equity - you have developed in the minds of your customers by trying to sell them something they don’t want, or at least don’t want from you.
Unfortunately, when this is done poorly, it can lead to confusion or even sink a business completely.
On this episode I look at 2 examples of brand extension in the food industry. One that failed and one that has been a success.
The Diner at Bagels By Us and Phantom Gourmet food and beverage festivals.
Show links:
https://www.yelp.com/biz/bagels-by-us-arlington
https://www.phantomgourmet.com/events/
Brand extension is hard. By brand extension I don’t just mean adding a second or third product or offering to your business that is an obvious choice. I mean venturing into territory that is a little but different than what you are already known for.
One the one hand, it creates an opportunity to increase your revenue by selling more to your existing customers.
On the other hand, you may be risking whatever good will - or brand equity - you have developed in the minds of your customers by trying to sell them something they don’t want, or at least don’t want from you.
Unfortunately, when this is done poorly, it can lead to confusion or even sink a business completely.
On this episode I look at 2 examples of brand extension in the food industry. One that failed and one that has been a success.
The Diner at Bagels By Us and Phantom Gourmet food and beverage festivals.
Show links:
https://www.yelp.com/biz/bagels-by-us-arlington
https://www.phantomgourmet.com/events/
8 min