The LASSO Algorithm
Presented by Pete Canalichio and BrandAlive
The algorithm predicts your brand’s growth potential by answering just five questions. Receive a prediction with an 80% accuracy rate.
ATLANTA – Pete Canalichio, award-winning author of Expand, Grow, Thrive, has developed an algorithm to allow users to determine whether their brand can be further expanded. It models the LASSO scoring framework derived, which is needed to determine a brand’s extension optimality.
This algorithm allows users to self-evaluate their brand according to the guidelines and receive recommendations as to how optimally the brand is being extended. Using state-of-the-art statistical techniques, the algorithm aims to simulate an expert assessment of brand extension in an automated manner, allowing both consistent and objective brand evaluation.
The LASSO algorithm, an academic project free forever to the branding industry, can predict which of your brands has the greatest potential to expand by answering just five questions. LASSO stands for Lateral; Addictive; Storied; Scalable; and Ownable. The test is based on these five categories.
Rigorous statistical analyses show the algorithm currently has an 80% accuracy rate in assessing whether a user’s brand is Under Optimized or Optimized. In order to reach our goal of 90%+ accuracy, we need brand owners like you to take the 5-question assessment.
You can take the test here.
“The LASSO algorithm assesses your brand’s expansion potential by comparing it to 56 failed and successful brand extension efforts,” developer Pete Canalichio explains. “These efforts include those of major brands like Coca-Cola, Mickey Mouse, the NFL, Chupa Chupps, FIFA World Cup, Nerf, World of Warriors and dozens of others.”
The LASSO algorithm allows users to benchmark its assessment of the brand by industry. It has been benchmarked data in 22 sectors, from automobiles to consumer electronics to apparel and fashion. This benchmarking enhances the accuracy of the results.
We envision brand owners coming back for regularly updated assessments as often as they desire as the algorithm can be especially effective for brands in different stages of their expansion/pre-expansion phases.
About Pete Canalichio – Canalichio, the global authority on brand expansion, is on a mission to help brands become more alive in the hearts of those that experience them. He does that by helping them write a better story through compelling content, inspiring platform talks, in-depth consulting and workshops, and practical tools. To learn more, visit: https://petecanalichio.com/.
About the Book – Expand, Grow, Thrive uses powerful storytelling and offers unique access to the personal perspectives of top-flight marketers, who have developed truly world-class business growth programs. Canalichio gives readers insight into how brands literally expand, grow and ultimately thrive. The book helps readers understand what makes a brand irresistible and expandable, how to decide whether to expand, and then what it takes to build a best-in-class licensing program. It is a must for brand stewards, licensing professionals and business owners who want to partner with the world’s top brands. You can find it on Amazon here.