Mike is a former Inbound Marketing Specialist at Mainstreethost. Conor McGregor, MMA Fighter Endorsements: $180 million as of 2022 Top Brands: Burger King, DraftKings, Dystopia Video Game, Roots of Fight, Proper No. GoPro makes the customer the hero of the story 5. Typically, organizations use celebrity endorsements or influencer marketing to promote their products. Reese's Cups, but cereal. There are plenty of other ways to do this without having to shell out tens of millions of dollars. Although synonymous with creating iconic animated movies and TV shows, Disney also offers products that help create a community around the brand. Successful Brand Extension Examples. They are a true example of global branding in the sport industry and beyond. Financial gain: Aside from creating new opportunities to earn more money, brands also tend to save money on marketing expenses and brand management with extensions. New Products: Clothing, equipment, and accessories for sports ranging from basketball to cricket. presence. 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. In an ever growing need for all sports brands to become a globally recognised brand, this tactic seems to work, and has seen NYCFC fly high right out of the gate. 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. 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. During the late 90s, the wrestlings Attitude Era was in full swing. Brand extension strategy examples like Apple, Starbucks and Google are: "Masters of brand extension because they are always moving into new businesses without changing their brand identity." Along with Apple, we'll explore two additional brand strategy extension examples, Corona and Sara Lee. Just turn to the . Brand extensions allow companies to leverage the success of their existing branding efforts to promote a new offering rather than build a brand from scratch. Required fields are marked *. A line extension is when a parent brand launches a new product line in a category already familiar with its customers. When it comes to branding, every detail matters. Celebrity Partnership, Lets be real. James took a lot of heat for the move, as it came off as big-headed and insensitive to the fans he would be leaving behind. 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. He selfied and smiled his way through the campaign perfect for the ephemeral nature of the platform and came off as genuinely enjoying himself. Early in his career, James often allowed the pressure of greatness to cast a pall on his media interactions. He selfied and smiled his way through the campaign - perfect for the ephemeral nature of the platform - and came off as genuinely enjoying himself. Lionel Messi, soccer Endorsements: $130 million/year Top Brands: OrCam, Budweiser, Adidas, Pepsi, The World Health. Tata Group is a good example of an organization that applies for company authority extension. Well, its the athletes. 3. Men+Care was a simple brand extension that helped Dove become the most popular male skincare brand in the US. I think the role football plays in peoples daily lives has a massive cultural affect, and it was time that the Premier League updated its image. After successfully marketing to women for decades, Dove decided to extend its brand to include men. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. The company initially distributed a few thousand copies of the guide for free. But unlike the former example, you literally need a toothbrush to use toothpaste. Amazon now sells all kinds of products on its e-commerce platform and provides services such as cloud computing, online advertising, video, music streaming, and artificial intelligence. Cadbury is known for making high-end chocolate and candy. Instead, they can expand their product line under the same brand name. HubSpot uses the information you provide to us to contact you about our relevant content, products, and services. Although Star Wars was popular among adults when the movie was first released in 1977, many children didn't like it as much. Titan is an Indian company specializing in fashion accessories such as eyewear, watches, and jewelry. By launching new products or services, brands can assure sales, without the need to invest in developing a new enterprise. Nike tells the best stories 2. Other examples include adding new scents, colors, and sizes to a product line. In an increasingly competitive world, brands can only survive if they offer something unique to their audience. He is, after all, the King. 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. This, in turn can increase your chances of gaining new sponsorships or starting a business after retirement. Gillette is a US-based brand that primarily sold only safety razors and shaving products for men. Your email address will not be published. Cadbury eventually sold Smash in 1986, over 20 years after introducing its instant mashed potatoes to the world. The major key step is to identify the product categories and . Team Canadas rebrand is something I will always go back to when it comes to sports branding. From early adulthood, Serena began dabbling in the entertainment industry, with credits on shows like Law and Order, ER, and The Bernie Mac Show throughout her twenties. Or, how much Rolex had to pay Roger Federer to tell the world that theres no better watch for a man than a Rolex? Here are a few that have been the most exemplary at turning their on-field/ice/court excellence into self-brandingexcellence. 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. Today, with some ad campaigns highlighting how kids can eat their favorite candy for breakfast, Reeses Puffs has helped General Mills, its conglomerate, capture the second-biggest slice of the cold cereal market share. In this type of extension, a brand might focus on a single demographic of their clientele and expand their products based on their needs. The company has invested in multiple sectors, including consultancy, automobiles, aviation, jewelry, apparel, hospitality, and so on. They seem to utilise printing and creative flair to their fullest. Couple this with big bold brand messaging, and the brand breaths a fresh life into a ever-growing sport in the UK. Instead, it leveraged its brand name to make penetrating the market a success. The partnership was a success because Food Network served a specific audience with what they needed. The list is long, the designs are memorable and clever. Today, Dettol has smartly extended its product line into handwash gel, bathing soap, hand sanitizer, liquid detergent, and floor cleaning liquid. It all depends on the situation and what you are wanting to achieve with your brand. There is a ton of money in sports. With technology moving faster than ever, and with that, our speech and communication style is changing. (adsbygoogle = window.adsbygoogle || []).push({}); Top brands: Puma, Nike, Red Bull, RePlay Jeans, Diesel Fragrances, Qatar Airways, DAZN, Triller, Top brands: Tommy Hilfiger, Mercedes Benz, Gran Turismo Sport, Bell Helmets, MV Agusta Motorcycles, Monster Energy, IWC, Sony, Bose, Petronas. His recent role in the summer blockbuster Trainwreck was well received by critics and fans alike. 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. What is a brand extension?When you have a successful product or service that, in turn, makes your brand name recognisable to a large customer base, you may w. The marketing of sport and non sport products. Take Broadway Joe Namath, for instance, who built his image around fur coats and finger-wagging swagger. Although brand extensions have been a topic of extensive study in mainstream marketing (e.g., Aaker & Keller, 1990; Broniarczyk & Alba, 1994; Keller, 1998; Rangaswamy, Burke, & Oliva, 1993; Reddy, Holak, & Bhat, 1994), limited efforts to examine this practice in . While tents, knives, bicycles, and other camping gear releases may be a far cry from cars, they are aligned with the companys projected lifestyle. Imagine the pile of brand briefs the Red Bull marketing team have to put out daily! It saves the trouble of spending money on branding and helps businesses grow their revenue further. Moreover, the brand name Armani ensures the success of the products. Create a logo in minutes & download instantly. Other examples could include introducing new scents, sizes, and colors to a product line. There are countless examples of companies using a known brand to expand into new areas. In applying the schema to the athlete brand context, we consider athletic . Virgin Atlantic began in the seventies as a record store and has grown to include several subsidiaries in travel, food, hospitality, consumer goods and more. It has diversified into the beauty and hospitality industries and boasts a range of fragrances, makeup, and hotel and restaurant chains across the world. Brand extensions use the same brand to announce new products to clients, using the existing consumer base to secure a strong launch. So whether youre a SaaS company or a consumer brand thinking about extending your product line, check out our list of the most and least successful brand extensions to help inspire your own. So Barcelona have simplified the crest, keeping key elements but ditching black lines and the FCB. Featuring orange juice as its flagship product, Sunkists brand has associations with oranges, health, and energy. Brand extension helps businesses expand their clientele by introducing products and services that meet customers needs. While this brand extension could have been risky, the partnership was successful. Similar to a line extension, a complementary product extension, also called a companion product extension, is when a brand releases a new product that complements its initial product. Applying a product that shares an ingredient with heavy-duty cleaning supplies to such a sensitive part of the body doesnt jive well with consumers. 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. Although P&G specializes in various products, the Pampers line focuses on making products like diapers and wipes for babies. However, Elon and Tesla are not the only ones to use a celebrity's lifestyle to extend an existing brand. athlete brand extension examples. LeBron James. Virgin Airlines. Attempting to pull its own Michelin stunt, Colgate, known for its toothpaste, attempted to jump into a new industry in the 1980s: food. With a line extension, brands don't have to create new categories. Because without the fans, sport would be a pretty boring prospect. The football teams are not the only sports that Red Bull have gotten themselves into. For example, Nike, a sports brand, creates various equipment, wears, and other sport-related products that complement each other. It could result in undesirable associations to your brand and weaken its existing associations and hurt your established products perceived quality. Starbucks: coffee-based beverages into energy drinks. 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. 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. An example of line extension is when an ice cream brand introduces new flavors to its existing lineup. On the flip side, a company can also exploit its brand and, in turn, ruin it. Entertaining and motivating original stories to help move your visions forward. Twelve, Reebok, Top Brands: OrCam, Budweiser, Adidas, Pepsi, The World Health. 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. Nikita is a content specialist who harbors a love for writing, oxford commas, and desserts. The Toronto Raptors branding in 1993 was no exception. It strategically considered its existing products and market needs before introducing new products and services. A company can create a branding extension for itself by launching different product categories for a single demographic. But unlike, say the Tokyo Olympics, which has a fair amount of creative leash to run with, the Rugby World Cup has a particular style and when it comes to the logo a particular shape and system to keep to. Amazon is a great example of a brand with humble beginnings that expanded its offerings to become an industry giant. Since then, shes moved on to the big screen with roles in such high profile movies as Pixels and 7 Days in Hell. Thats not to say you shouldnt try and expand your brand if you have the opportunity. In this blog, Hollywood Branded explores why brands choose to partner with athletes, the top 10 highest endorsed athletes in 2022, and the brands that pay them. Virtual reality options like lenses and fashion shows provide more of a secondhand experience for consumers, instead of the full experience of a luxury retail brand. Your email address will not be published. In 2002, WWF (the wrestling) agreed to stop using the abbreviation, and launched a campaign called Get The F Out, officially declaring themselves as WWE (World Wrestling Entertainment.). 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. (877).509.3570 EngageBay 2023.
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