Brand extensions are one of the best ways to enter new product categories and expand a brand’s franchise. They offer companies the most efficient method to gain distribution, name recognition and acceptance. But successfully moving from one store aisle to another isn’t as simple as slapping the same logo on a different package.
To find out what makes successful brand extensions tick, we teamed up with Dr. Edward M. Tauber, who first coined the term brand extension in 1979, to conduct an exhaustive study of more than 500 brands across every category. We looked at top names like Starbucks, Martha Stewart, Snickers, Crayola, Better Homes and Gardens, Ralph Lauren and many others. Our most compelling discovery: There are only 10 ways to successfully extend a brand into a new product category.......... Read more.