Benefits of Brand Extension For Your Business, #1. Sports branding is everywhere. In fact, one visit to her websitereveals several aspectsmore commonly associated with corporations: documentation ofher minority ownership of an NFL franchise, a highly professional and consistent blog presence, and even an outline ofher many successful humanitarian pursuits. Well, its the athletes. Then realised they were all by the same agency. Men+Care was a simple brand extension that helped Dove become the most popular male skincare brand in the US. Many companies use brand extensions because it allows them to leverage their parent brands brand awareness and authority to reach new demographics and open up new sales channels. There are many reasons why brand extensions can be beneficial, so the reasons for pursuing an extension are different depending on a companys goal. The brand is synonymous with selling hot coffee of various kinds. Example: Dettol - Dettol bath soap, Dettol sanitizer, Dettol shaving cream, Dettol liquid hand wash, Dettol liquid adhesive bandage, Dettol pain relief spray and Dettol antiseptic cream. Its hard to imagine someone shaving without using shaving cream, foam, or gel? In reality, its a new term to the sports world, but not a new phenomenon. In addition to the money, athletes are branding goldmines. Improved brand image: By leveraging a trusted brand name and persona, brands can improve perception and overall image to both existing and potential customers. This allows existing firms to attain growth and expand their clientele by capitalizing on existing brand assets. The interesting thing about the whole rebrand, was what it allowed the company to do. The Star Wars brand extended into the toy market. Privacy In my opinion, Colgates decision to enter the toothbrush market was a necessity and one of its best moves, helping it secure the third-largest slice of the oral care market. There is a ton of money in sports. Colgate inexplicably began offering frozen dinners. Brand extension, also called brand stretching, is a marketing strategy companies use to apply their recognizable brand name to a new product or service. Not much. by | Jun 10, 2022 | boxer rescue uk | how to install drone propellers | Jun 10, 2022 | boxer rescue uk | how to install drone propellers AJ graduated from Loyola Marymount University with a degree in entrepreneurship. Are there any sports branding projects you think weve missed? Otherwise, you cant brush your teeth. In complementary product extensions, brands add products that complement their existing range of products. As a result, companies dont have to create a new product line and can expand their customer base by adding to their already existing product categories. To sell more tires, the Michelin brothers had to get more people on the road. These are five different brand extension possibilities that you can consider: A line extension is one of the most straightforward brand extension examples and involves a brand launching a product that would already be familiar to its audience. This, in turn can increase your chances of gaining new sponsorships or starting a business after retirement. This brand extension was a failure mainly because selling frozen food was in sharp contrast with Colgate's brand identity. Negative impact on brand image: If a brand rolls out a subpar product or service compared to their original offering, it may negatively impact the core brands image. The product in this type of extension would fall in the same category as the companys current offerings, making them easy to market to their existing clients. Their seems to be a little bit of a stigma for everyday women exercising and feeling comfortable doing it. After the Formula 1 rebrand, existing fans quickly slated the move, feeling it was too simple and rushed. Though endorsements from apparel companies were around long before her and her sister stormed Americas courts and hearts, Serena became the first to approach the endorsements as a way to make statements as opposed to just money. Williams, like LeBron, came into prominence as a teen. It was during this time that AJs love for marketing and working with brands really began to blossom. Read also: 9 Types Of Branding And What They Really Mean. It is important to have a strong brand message that will relate to your target audience, this is a pretty specific audience of possible recruits. So examples like Disney and McDonalds happy meals were used as inspiration, and with the major success of Jurassic Park the raptor idea was born. He selfied and smiled his way through the campaign - perfect for the ephemeral nature of the platform - and came off as genuinely enjoying himself. Helps capitalize existing brand assets, #2. Since then, shes moved on to the big screen with roles in such high profile movies as Pixels and 7 Days in Hell. The inevitable hiccups of his self-branding history are clearly behind him. Complete Content Development Toolkit. Reese's Cups, but cereal. It brings fresh, exciting colours into play with big bold text, reflecting the league itself, which boasts as being the most watched league in the world. Although Colgate did well by extending its brand and creating different oral care products, it failed to enter the food space. Dettol is a UK-based disinfectant and antiseptic soap brand popular in India. (Still asking Jeeves, probably.) Free and premium plans, Sales CRM software. The product in this type of extension would fall in the same category as the company's current offerings, making them easy to market to their existing clients. We believe that bringing brands, content, celebrities and influencers together makes storytelling more meaningful and impactful. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We use cookies and similar technologies to ensure you get the best experience on our website. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. In applying the schema to the athlete brand context, we consider athletic . Enough said. Like LeBron and Serena, Johnson has also been active as a philanthropist. If they want to introduce a new product line or extend an existing product category, they need not launch a new brand. Eurosport was, in our opinion, in major need of a refresh. When it comes to branding, every detail matters. This strategy is known as customer base extension. For small to medium-sized brands, getting an athlete to promote your brand may be difficult due to the costs associated. The tech giant began as a search engine in 1998 and now owns multiple products that make our lives and work that much easier. The two thrust of sport marketing are. Sports Marketing. Athletes (and the journalists who cover them) often talk of the new requirement of self-branding. Some good, some bad, but there is no one formula in creating a sports brand. We're committed to your privacy. Lets be real. An example of a brand lifestyle extension is that of Tesla, an American automotive and clean energy company. If you have an engaged following, existing customers won't find it unreasonable to buy similar products with the same brand name. Successful Brand Extension Examples. In fact, here at Hollywood branded, we can help you with that. wesleyan hockey coach athlete brand extension examples. Every season, more and more American college teams, whether that be in basketball or football, or just a whole college sports program are looking to rebrand and bring a fresh new look to their side. This post will take a look at three different approaches to building that personal brand (good andbad), and see how these athletes have used them to transcend their playing fields. Save my name, email, and website in this browser for the next time I comment. Existing brand loyalty makes this ideal for a company that wants to offer its customers a wider range of products. Hubspot lists Reese's Puffs cereal as the greatest brand extension example of all time, and we have to agree. Other examples include adding new scents, colors, and sizes to a product line. Attempting to pull its own Michelin stunt, Colgate, known for its toothpaste, attempted to jump into a new industry in the 1980s: food. Her performance was so good that it earned her a Golden Globe nomination for Best Actress. The brand has to push the heritage and culture of the tournament host but stay the course within the brand system of the Rugby World Cup. Despite the potential for failure, many household brand names continue to launch surprising new products and brand extensions, such as the KFC smartphone and even Netflix marijuana. What do tires and fine dining have in common? We adopt Keller's customer-based brand equity model (1993) here because the model highlights the multidimensional structure of brand associations. Its one of the few things in todays world that allows two people from completely different backgrounds to come together and share times of both happiness and sadness together. best hunting game for oculus quest 2 athlete brand extension examples Moreover, the brand name Armani ensures the success of the products. athlete brand extension examples. The campaign is based very much around strong imagery with a considered and simple brand coupled with it. With an almost gaming feel I think does this very well but it is important when rebranding, especially in sports, that you dont leave behind the loyal existing fans. Examples include a sports equipment company adding another activity to their offerings or a razor company adding shaving creams. While tents, knives, bicycles, and other camping gear releases may be a far cry from cars, they are aligned with the companys projected lifestyle. For instance, sports brands sell cricket bats and balls together as complementary goods. The new Premier League branding was a much need update for a outdated brand. The personal care company created the Men+Care line and developed a marketing plan that was geared toward men while staying true to its body-positivity brand values. 1. Are you a new sports team, looking to create a global brand? Trying to connect with a new and younger audience will always help with this. Its brand extension into toothbrushes, on the other hand, was very successful. The hope is that this updated brand can be easily reproduced with any change across all types of social media and other media, keeping a consistent visual style throughout its applications. Some example of brand extension are: Apple: from personal computers into MP3 players. Some famous examples of brand extensions include product launches by Amazon, Apple, and Starbucks. Other examples could include introducing new scents, sizes, and colors to a product line. With the US Opens new brand identity, it is instantly recognisable and consistent throughout its materials, making it an ace in my book.