Lindt Brand Product Extension - Turning Dreams into Reality.
Growth strategies are important because they keep your company working towards goals that go beyond what's happening in the market today. They keep both leaders and employees focused and aligned, and they compel you to think long-term.
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This would be a simple Product Brand extension as Lindt is an existing brand and this growth strategy will be with a different form of product giving the customer an overall wider variety to choose from.
A promotion of new products can result in higher sales and with more products the brand can in-turn gain increased recognition in the market place. Lindt is a strong parent brand and hence customer loyalty is present this can be used as an advantage when introducing a new product. However, surveys should be carried out as a customer is the factor that drives a brand to produce and succeed.
It is startling as to how many people have the best
ideas yet don’t know how to get them heard.
When thinking about extraordinary, classy and quality
chocolate. The brand that pops up in mind for majority of the population is
Lindt. I have previously written a blog around the Lindt brand itself and from
previous research it is well known how top of the range the brand is.
Imagine Lindt stores adding desserts like cakes and biscuits
to the brand's range of products offered. This would be a brand growth strategy, whereby
they would leverage their existing good name and positive associations. Their
brand is also visually appealing, and invokes feelings relaxation, a deserving
and meaningful treat. Most of us are
aware that Lindt provides delicious recipes on their website for thought who
would like to experiment with the product in creating other extravagant treats
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However, we
already live in a rat race world, as it is known Lindt, offers premium quality
products and hence has adopted a premium pricing strategy.
Thus, if one can
afford it. Why bake your own lindt chocolate cake when you can just as easily
buy one at your favorite chocolate store. This is how customers who require
classy delicious cake treats end up shopping at Château Gâteaux.
There is always the risk of failure of a new product, for example look at Toyota emissions scandal(view my previous blog post for more insight on this topic). Even New coke was a Coca cola brand failure. These are examples of new ideas that had a negative impact on customers and failed, obviously causing the brand to suffer a loss in targets as well as brand image. Brands need to be open to keep customers loyal. Having a cohesive brand strategy helps you communicate with your customers more clearly.
Reputacion de marca is simply how everyone else sees a brand (a person or organization). A great brand reputation demonstrates consumer confidence in your brand and that consumers trust them to do business with you.
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