Sometimes the brand extension is just another proof point for the brand promise, strengthening what the brand stands for. At other times, it makes the brand more relevant to new customer segments. Sometimes it can stretch the meaning of the brand beyond a particular product category, giving it a prolonged lifespan and greater flexibility for future growth.
Marketers are trained to believe insights are the foundations of brand strategy and powerful insights about the target customer yield strong brands. But what exactly constitutes an ‘insight’ and how do you recognize one when you see it? What makes one idea worthy of building a brand around and another simply ‘nice to know’?
As the most significant event in advertising grows nearer, it will be interesting to see how many brands enlist the endorsement services of celebrities during the Super Bowl. After all, popular wisdom asserts that getting a celebrity endorsement is a tried-and-true, simple-to-implement way to maximize advertising effectiveness. Sure, it’s expensive, but celebrities always yield stronger ties with viewers and, ultimately, greater sales, right?
Not surprisingly, Tiger Woods led the list of the worst celebrity endorsements of 2010, along with other sports figures, including Lance Armstrong and Dale Earnhardt, Jr. Mired in controversy, Tiger’s sponsors chose to address his “mistakes” in their ads rather than the products that he was supposed to be hawking.
Colour is crucial to every brand, regardless of the size of the associated company. It can help build consumer familiarity and trust for a business, but can just as easily turn prospective customers away if not used correctly.
“Colour is vitally important, because it gives your company something different to hang on to,” says Damian Pincus, CEO of advertising agency The Works.