We all can recall successful brands that have been extended to cover new products—Apple's push into digital music comes to mind. And we also remember those brands that didn't stretch very well, illustrated by Volkswagen's upscale and slow-selling Phaeton.
Only 50 percent of brand extensions end up successful, says Brand Stretch author David Taylor. His book provides practical help on both the method and mindset needed to create successful extensions.
After dissecting brand failures, Taylor offers his "brand added value" approach, consisting of six steps: stretch the core brand; develop a clear vision to give coherence to the stretching; generate stretching ideas suggested by consumers, competitors, and the company itself; focus on those ideas that best increase business growth; deliver on the promises made in the idea; and structure the extended product range to ensure the best use of the company's resources.
Examples are drawn from the case histories of a number of companies including Virgin, Starbucks, and Budweiser.
If your interests lie in the theoretical, this book probably won't satisfy your thirst. But with adequate signposts and summaries, Brand Stretch is effective in guiding the reader through practical steps to better leverage your brand.