How to Succeed in New Markets
brand-as-business bit: To expand or not to expand, that is the question — the question most companies grapple with at some point.
While entering a new market certainly opens up a new revenue stream and increases the impact and stature of your brand, it can also add complexity and variability that threaten your operations and brand equity. I wrote this month’s Brand New Perspectives column to lay out principles and guidelines for successful expansion. It speaks to the naming, cultural, and marketing decisions that must be made. While it’s written for the restaurant industry, I hope companies in all sectors will find it helpful.
Please let me know what you think.