How Brands Diversify: Part 1 - Brand Extensions

On this episode of the NerdBrand Podcast, we’re diving into how brands diversify. This episode kicks off a three-part series starting with Brand Extensions.
A brand extension (sometimes called a category extension) is when a brand uses its established name or an established product line to launch a new product or category.
The idea is of course to leverage the brand reputation and loyalty to catapult the new product.
In other words, the existing brand is a low-cost marketing tool.
Brand extensions are often introduced with the goal of opening a new revenue stream with a complementary product, improving the customer experience, or solidifying a competitive advantage in the market.
Let’s look at some examples we talk about on the episode.
Tesla Tequila: Yes, from space ships, electric cars, to now liquor.
KFCFingernail polish: WUT? No seriously. Launched in the Hong Kong market.
Fire Logs: Yes – this just gets weirder. Make your house smell like KFC when you do not have KFC.

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