athlete brand extension examples

A daily dose of irreverent and informative takes on business & tech news, Turn marketing strategies into step-by-step processes designed for success, Explore what it takes to be a creative business owner or side-hustler, Listen to the world's most downloaded B2B sales podcast, Get productivity tips and business hacks to design your dream career, Free ebooks, tools, and templates to help you grow, Learn the latest business trends from leading experts with HubSpot Academy, All of HubSpot's marketing, sales CRM, customer service, CMS, and operations software on one platform. For a brand that relies on the lifestyle and culture it promotes, a brand extension can take an unexpected turn in terms of the category of products it offers, so long as it still fits with the brands portrayed values or distinct way of living. The website, marketing, and other brand elements are all consistent and exciting, following the Red Bull way, utilising the brand colour palette and the now iconic two bulls logo design. These initiatives are called brand extensions, and they allow companies to leverage their brand awareness and equity to create more revenue streams. Brand revival: Sometimes brands need a refresh, and rolling out a new product or service can breathe new life into a business. Brand trust: From the consumers perspective, theyre more likely to try a new product from a brand that they know and trust. Their seems to be a little bit of a stigma for everyday women exercising and feeling comfortable doing it. Imagine the pile of brand briefs the Red Bull marketing team have to put out daily! The major key step is to identify the product categories and . These brand extension examples show how well-established companies use it to target a wider demographic and can either be related to or different from the parent product category. His maturation process has been public viewing since he was a baby-faced phenom in Akron, OH. The problems and roadblocks the brand was having, was that it was a complicated brand and had difficulty with recognition and digital application. There are many reasons why brand extensions can be beneficial, so the reasons for pursuing an extension are different depending on a companys goal. He selfied and smiled his way through the campaign perfect for the ephemeral nature of the platform and came off as genuinely enjoying himself. Still, its entrance and success in a saturated market speak volumes for a company primarily known for selling cars. Company Authority or Expertise Extension An extension of a firm's authority or firm's expertise relies on trust in a brand within an industry. Through this, Gillette aimed to expand its customer base by targeting the female demographic and creating shaving products customized to their needs. Recognition seemed to be another problem for the old brand. He is, after all, the King. Cadbury eventually sold Smash in 1986, over 20 years after introducing its instant mashed potatoes to the world. Think of the Beats By Dre headphones. The company sells merchandise in the form of apparel, toys, and other accessories and is also known for its amusement parks around the world. Which of these makes the sport marketplace unique compared with other industries? 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. Titan is an Indian company specializing in fashion accessories such as eyewear, watches, and jewelry. Or, activewear brands selling swimsuits with head caps, which results in a sales boost. Wrestling was a product for teenagers and above. The This Girl Can campaign portrayed everyday women, not athletes, not only enjoying, but really succeeding with their individual goals, expelling the stigma. In fact, here at Hollywood branded, we can help you with that. The technical storage or access that is used exclusively for anonymous statistical purposes. While Serena has, over the years, established herself as the superior player, the fact that she had a partner to share the unique and bizarre experience of adolescent celebrity status has certainly helped her navigate the precarious waters of personal brand-building. A complicated football crest can get lost in the masses. 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. His larger-than-life presence and natural charm have made him a magnet for box office success, and thats what will give his post-athletics career and personal brand real longevity. She creates engaging and high-quality content for businesses that want to see their Google search rankings surge. Even more so if you run a sportswear or fitness brand. It includes offering unique products or services, targeting the right audience, building a competitive and efficient business model, and creating a business logo or tagline that resonates with your brand. One company that does brand extensions well is Apple. AJ graduated from Loyola Marymount University with a degree in entrepreneurship. Since its audience already associated the brand name with dental care, it was hard for them to see the company differently. The last thing he wanted was a Maple Leaf logo, which would be a pretty normal step if you were trying to connect with a Canadian city. They are a true example of global branding in the sport industry and beyond. They have successfully launched brand products under their names. 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. 3. studio, network or celebrity. The proposed Miami branding uses an uncommon pink and black colour palette that reminds me of the Italian team, Palermo. But what amazes me about Steinfeld isnt her acting prowess. Other examples could include introducing new scents, sizes, and colors to a product line. He also recently starred in a premiere series on HBO, Ballers, that is returning for a second season in the coming months. They have practically spread into every extreme sport thinkable and many other sports. Rather than going to market right away with a new product, focus first on your customers needs and your brand identity. Dove is a well-known hair and skincare brand, popular for manufacturing womens skincare items like soap, body washes, bars, etc. As a result, brand extension becomes inevitable. For instance, sports brands sell cricket bats and balls together as complementary goods. Your email address will not be published. You might not have thought that a vacuum cleaner producer would start selling hair dryers, but Dyson did just that. Benefits of Brand Extension For Your Business, #1. Initially known as Titan Watches Limited, the brand later diversified into selling eyewear, perfumes, bags, and wallets. For example, a haircare brand that has shampoos might create a line extension for new products that are for colored hair, thinning hair, or curly hair. While some of the more conservative members of the tennis elite found her unprecedentedly colorful outfits offensive there wasnt much they could say once her dominance and charm continued to steamroll the competition. Steinfeld has collaborated with some of the most famous musicians like Zedd, Florida Georgia Line, and Alesso to produce three hit songs that have all reached the Billboard Hot 100 record chart. In this type of extension, a brand might focus on a single demographic of their clientele and expand their products based on their needs. Failed brand extensions can also lead to brand dilution. Williams, like LeBron, came into prominence as a teen. We read that their were many variations of the logo and branding, so with this slightly disjointed approach the brand didnt have a recognisable element that they could hook into to grow the brand further. Check out this video that highlights a variety of celebrities who have had endorsement deals, and the sales results for their brand partners. . Go For small to medium-sized brands, getting an athlete to promote your brand may be difficult due to the costs associated. Below are the top highest endorsed athletes as reported by Forbes. The WWE (formerly WWF) had an interesting conundrum when it came to their branding way back at the turn of the century. Setting up a brand structure and how the brand is used in different situations is great but be sure not to go too far! When Levis introduced Tailored Classics in the early 1980s, it already owned a large share of its target market, so it wanted to enter some new markets to sustain its high growth rate. Further, Armani also has its own floral creation and chocolate brand. It all depends on the situation and what you are wanting to achieve with your brand. Men+Care was a simple brand extension that helped Dove become. Rare Design seem to have a monopoly on rebranding NBA teams. 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. There are countless examples of companies using a known brand to expand into new areas. In her leisure time, you will find her binge-watching TV series or exploring new cafes in town. This is another project that has so many facets that the undertaking of something like could be a little daunting. Conor McGregor, MMA Fighter Endorsements: $180 million as of 2022 Top Brands: Burger King, DraftKings, Dystopia Video Game, Roots of Fight, Proper No. The company initially distributed a few thousand copies of the guide for free. Callaway: from golf clubs into footwear, apparel and golf accessories. Brand Extension - Definition, Types, Examples, Pros & Cons So Barcelona have simplified the crest, keeping key elements but ditching black lines and the FCB. All-in-one Marketing, Sales, Support and CRM Software. Now all the younger, tech savvy generation will only see this as, well you know what it means. Because without the fans, sport would be a pretty boring prospect. Their logo was made up of the abbreviation WTF, so a change was desperately needed to avoid negative connotations from the younger generation. Although Apple started as a technology company that makes only computers (Macs), it soon extended its product line to include music players (iPods), mobile devices (iPhones), and tech accessories (Apple Watch and Earpods). A line extension is when a parent brand launches a new product line in a category already familiar with its customers. 13 of the Most (& Least) Successful Brand Extensions to - HubSpot Amazon is a great example of a brand with humble beginnings that expanded its offerings to become an industry giant. Those that become aware of this reality early enough (and have the skill or people around them to pull it off) can use it to their self-branding advantage. From the Kings, to Charlotte Hornets, the Timberwolves to Atlanta, they have done them all. Read also: 9 Types Of Branding And What They Really Mean. They have all connected the branding back to their respective cities, whether that be connecting it to a piece of history from the area, or reconnecting a brand to a much evolved city. This brand extension was a failure mainly because selling frozen food was in sharp contrast with Colgate's brand identity. GoPro makes the customer the hero of the story 5. Developing a new product in a market that isnt closely tied to your flagship product or core brand, like what Zippo did with its womens perfume, could cause some problems. The company further capitalized on its market saturation by releasing accessories and technologies that complement the iPhone, like Airpods and the Apple Watch. This goes to show just how valuable an athlete's personal brand is. The most notable of these instances would undoubtedly be his televised hour-long special, The Decision, which aired in July of 2010. Nikita is a content specialist who harbors a love for writing, oxford commas, and desserts. Historically, the most successful brand extensions are the ones that closely tie to the companys core brand or flagship product, like Gerbers baby clothes and Doles frozen fruit bars.

How Does The Gift Of Prophecy Manifest, Stabbing Alpha Road, Croydon, Capcut Background Remover, The Tennille Life Ethnicity, Articles A