Toy brand plays the brand extension game.
A well established toy brand had seen constrained growth in their key category over a period of years. Whereas they retained their commercial status as category leaders, it was obvious that their brand equity was under-leveraged. The company needed to identify a path to growth into adjacent categories that could draw on their brand heritage and equity.
WThrough internal stakeholder discussions we identified many categories that were potential extension candidates. This was done on the basis of their commercial profile, thus we explored dimensions such as manufacturing strengths and current distribution network. We then progressed to a research phase to explore the functional and emotional characteristics of the brand. Finally we overlaid imagery perceptions of candidate extension categories to see in which of these the equity of the brand would have the greatest positive impact. In so doing we created a shortlist of potential extension categories, with consideration of potential executional pitfalls.
The company is currently conducting a secondary commercial review of the shortlisted categories, to prioritise in terms of financial viability. We will then move into an opportunity identification and concept development phase.