Many companies would say it’s their latest product to hit the market, but with strategic marketing your true advantage is your CURRENT BRAND. For example, Apple has come up with some intriguing features for its new iPhone 6 and its fancy new Apple watch. We all know these products will without a doubt be successful, but why? Because of their successful brand…Apple. Launching the right products from the well-known Apple brand creates brand extensions that entice loyal customers and interested new comers to appear with money in hand, time and time again. The bottom line is, brand extensions that build on your current brand of products are your competitive advantage and today’s strategic solution to increasing your profit.
So how do these brand extensions come into existence? Collaborative discussion, competitive analysis, and brain storming ideas inspire a team of designers and engineers to create a prototype that enhances your current line of products. These prototypes, which become marketable products after a process of user testing and refinement, are built on past success. They must be designed to fit perfectly into your current line of products aesthetically, but also with innovation and attention to detail to attract customers with their ease of use, translating into sales. For your company, R2FACT Product Development takes on the role of brand extender, bringing to the strategy the added benefits of expertise in design, engineering, prototyping and manufacturing.
So what will your next brand extension be?