Magnet Investments

Richard Branson Market

Many managers today focus on brand-stretching. It is one thing to want, and quite another – to implement the plan. Thus the main task facing the head – correctly identify the target audience. Sociologist Irina Denisov suggests ways of selecting, providing examples of successful attempts to move beyond their market products, and recalling the experience of losers. Of course, marketers have convinced consumers that purchase they make on the basis of "Branded" product. But in trying to further advance product by going beyond the market, not every brand is included in the accompanying product proves popular.

History has repeated instances of the failed experiments of brand stretching: this issue of unclaimed beverage Virgin Cola and Virgin Vodka quite successful entrepreneur Richard Branson, and attempt to make the ketchup bottle from the popular McDonalds, and many others experiments, which were based on "unique selling proposition." Until, finally, a new rule of brand stretching – moving beyond the market based on life values. But how to define these values, more precisely – lifetime value of your brand to a potential buyer? One of the reliable options – poll. This is the way to determine the target audience a brand-stretching chose the world-famous engineering firm JCB. Founded in 1945, JCB is still continuing to produce agricultural structures and equipment – tractors, excavators, bulldozers, cranes, etc. JCB has several headquarters in England and is one of the most respected companies in Europe to their profile by selling their wares in 150 countries. This is a truly global brand.

Tags: marketing