When should you extend your brand versus re-brand under a new name?
Today’s Monday Morning Marketing Quote discusses brand extension and quotes Al Ries and Jack Trout and their book, Positioning: The Battle for Your Mind. (affiliate link)
“When a really new product comes along, it’s almost always a mistake to hang a well-known name on it. The reason is obvious. A well-known name got well-known because it stood for something. It occupies a position in the prospect’s mind. A really well-known name sits on the top rung of a sharply defined ladder. The new product, if it’s going to be successful, is going to require a new name. New ladder, new name. It’s as simple as that.” – Al Ries and Jack Trout