Well this time I have some more interesting info about Cosmo, but now we are not talking about the magazine anymore. We are talking about yogurt. Yeah, you read right, yogurt.
But let's think this first, before I tell what this is all about. If you think Apple, Samsung, Nokia and Philips – all of these brands have built an image of being reputable manufacturers of electrics. This brand image is attached to the company and affects their future operations as well.
If one of these manufacturers decide to enter a totally diverse field, let’s say, perfumes, would it be appropriate? Most certainly not! That's why we are talking about yogurt, because in 1999 Cosmopolitan introduced its own line of low-fat yogurt. The brand failed badly since the customers were reluctant to accept a yogurt linked to a female magazine.
Source: https://www.brandillymc.com/wp-content/plugins/rss-poster/cache/7cead_5-cosmopolitan.jpg
To wrap up, brands must not be treated as mere products or items of physical value. They have an intrinsic value that completes the whole brand personality. Companies must align their branding efforts according to the expectations of their customers.
According to marketing myth, as many as 80% of new products introduced each year fail. That's quite sad, because many of these products can't make themself known abroad before the lifespan is already about to end. Most of these products stay in their home coutry because there isn't resources and courage to test, how the product would make it in a different culture. Maybe in Asia those Cosmopolitan yogurts could have been a huge success? Who knows.
But just thinking, what would Apple perfume smell like? Maybe like..... apple? Haha. :D
We'll see again! :)
Heidi
This is related to brand stretching. What could be prerequisites for successful stretching?
VastaaPoista