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Quick—do you know what Starbucks Coffee Liqueur, Ralph Lauren for the Pet and Mr. Clean Car Wash all have in common? Answer: Each is an example of a brand extension—a new product that a brand famous in one category rolls out in another category. A time-honored tactic of the branding world, extensions are a great way both to enhance a brand’s image and boost the bottom line.
Or not. For every great brand extension out there, history offers many more examples (Colgate frozen entrees, Harley-Davidson perfume) that prompt the question: What were they thinking?
Well, according to brand-extension agency Parham Santana, here’s what they should be thinking.
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