Some of the most meaningful, transformational brand extensions came to fruition as a result of companies tapping into intangible yet salient aspects of their brand positioning. Like many other components of branding and brand strategy, successful extensions first require a shift in mindset.
Is your brand positioned in consumers’ minds against competitors in a meaningful way? Today, too many brand strategies lack strategic differentiation. Instead, they fall back on traditional differentiators like price points, product features, and customer service. Brands that rely on such ho-hum differentiators lose in the long run for three reasons: