Beat the Brand Extension Odds
What did the most successful food and beverage consumer packaged goods brands introduced in 2011 have in common? According to the New Product Pacesetters Top 10 Food and Beverage Brands report, they were all brand extensions like M&M’S Pretzel and Kellogg’s Special K Cracker Chips.
But not all brand extensions are as impactful. In fact, the brand extension failure rate is 80%. So they must be evaluated carefully. My latest OPEN Forum column lays out five criteria to consider when planning a brand extension. Please take a read and let me know what you think.