Failure Case Study: Innocent Vegetable and Noodle Pots ; Risks of operating outside a brand's core business

Publisher     :
Canadean
Published     :
January 2016
Delivery Method     :
By product vendor
Format     :
pdf
Product Code     :
CS1065IS
Pages     :
14
Price :   £ 307.00

Summary
"   Brand extensions can be very risky; however, the rewards can be great if companies do the right business assessments.

"  It is essential to find logical and appropriate categories to expand the brand parent name into.

"  Undertaking intensive consumer and market research helps companies to understand what the brand extension would bring to the market.

"  Competition, price point, and quality are very important aspects that manufacturers should take into consideration before launching new products.

Synopsis
Extending a brand into a new category can be highly tempting; however, this step can be very risky especially if companies do not answer fundamental questions before taking this decision. Therefore manufacturers need to do intensive research about what effects the brand extension will have on the parent brand name, which categories to expand into, and any risks that should be taken into consideration.

Reason to buy
"  Understand the UK ready meals market, consumers' preferences, and the main brands on the market.

"  Reduce the risk of failure by learning from brands/products that have underperformed: failed innovation can severely impact profit and reputation.

"  Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.

"  Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.

"  Access valuable strategic take-outs to help direct future decision-making and inform new product development.