Given how heavily companies spend on advertising and merchandising, any factor - in this case, better use of branding - that could possibly enhance the survival chances of a product extension deserves serious consideration. In fact, if you are thinking about launching a new product tied to an existing brand, this informative book might save your career. Author David Taylor identifies so many prerequisites for making a brand offshoot successful that you may decide to take up some safer activity - like bungee jumping. That cautionary guidance alone is invaluable. Unlike many other marketing authors, Taylor writes concise chapters, liberally dosed with good examples. Each chapter ends with a summary, checklist and pertinent takeout. The package works well to convey Taylor’s provocative ideas. To avoid embarrassing product failures, read this book. getAbstract.com warmly recommends it to those daring enough to be branding and product-marketing specialists.
In this summary, you will learn
- Why half of all brand extensions fail;
- How to beat those odds; and
- How to enhance the success rate of brand extensions by emphasizing specific consumer benefits and avoiding brand confusion.
About the Author
David Taylor is a founder and managing partner of thebrandgym, a British consulting company that develops brand strategies. His clients include Unilever, SAB Miler, Cadbury and Blockbuster. Taylor began his career with Proctor & Gamble and Sara Lee. He holds an M.B.A. from INSEAD in France. He is also the author of thebrandgym: A Practical Workout for Boosting Brand and Business.