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Brand building tips

Brand partnerships24 Mar

Photo by Nelson Cheen on Flickr

Photo by Nelson Chee on Flickr

Funky brands evolve, they are not static.  In spite of being able to stay true to its authentic values and brand vision, a funky brand is nevertheless able to keep its finger on the pulse of consumers, experiment and surprise them.

BRAND RE-VITALISATION TECHNIQUES

I have already discussed several techniques that brands use in order to stay contemporary and fun.

Line extensions occur when a company “introduces additional items in a given product category under the same brand name, such as new flavours, forms, colours, ingredients or package sizes.” 1.

Example is Starbucks introducing a line of instant coffee, Starbucks Via.

Brand extensions are more radical ways of either capitalizing on the success of your already popular brand, or bringing some fresh air into the otherwise old and tired brand image. A brand extension is “using a successful brand name to launch a new or modified product in a new category.”2

Example: a brand of bananas Chiquita and its new line of fruit juice bars.

BRAND PARTNERSHIPS, OR CO-BRANDING

True to its “schmoozy spirit” (schmoozing is the term I discussed before), SCHMOOZY FOX is fond of brand partnerships.

They can be particularly interesting for you if your brand does not yet plan to launch a whole new product line, or extend into a totally unexplored area.  Then perhaps a brand partnership is something to keep in mind while you are searching for a strategic direction. Brand partnerships are also referred to as co-branding.

A brand partnership is usually a short or medium-term collaboration between two or more brands in order to enhance each other’s positioning vis-a-vis the target market.

FASHION AND HOME ACCESSORIES

A recent trend that I’ve been noticing in the mass luxury (also called new luxury) market is this: fashion brands partner with artists and designers to create home accessories.

Here is a recent example of this trend that I came across in a Dutch magazine (forgot its name :( )

Diesel lamp

Diesel lamp

This is a lamp that is a result of a brand partnership between Diesel, Foscarini and Moroso.

Another example is a recent partnership between Levis and fashion designer Veronique Branquinho. The suprising result of this partnership is not actually related to fashion at all.   It’s …. wall paint that is sold under a slogan Fashion for Walls.

levis_ambiance_1

Watch this space for more examples of brand partnerships.

1) Principles of Marketing, P. Kotler, 2002, p. 478

2) Kotler, Principles of Marketing, 2002, p. 479

Related posts:

  1. Co-branding: Martini and D&G
  2. Interplay between brand strategy and innovation
  3. Anders Wall, CEO of Biomega, talks about city biking as a new luxury
  4. Diffusion brands vs parent brands
  5. How Funky Brands can be creative: 7 insights from the Creativity Forum in Antwerp

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About Olga

Olga Slavkina is an international brand and marketing strategy expert based in Brussels and managing partner of SCHMOOZY FOX. Originally from Latvia, Olga was educated in the United States, where she was a Fulbright student at The Fletcher School (Tufts University), and Spain. She holds an MBA from IE Business school in Madrid, which holds the No. 1 position in the 2012 Financial Times ranking of European business schools.

Fluent in several European languages, Olga works with companies around the world to help them launch new products and services, reposition existing ones, and make them relevant and meaningful to their customers.

Olga’s expert opinion on branding and marketing has been featured in Financial Times, TechCrunch, Personal Branding Blog and other publications. Olga’s concept of Funky Brands™ has been nominated for the Accenture Innovation Award 2011. Olga tweets as @schmoozyfox.

Get in touch

 

SCHMOOZY FOX is based in Brussels, Belgium and serves customers internationally.

 

Email: olga (at) schmoozyfox (dot) com