Is your Brand Ready To Stretch Into New Categories?
Every company is under pressure to grow their footprint and revenues. Many brands are looking for ways to do so on a global basis. In this workshop, we will determine what it takes to build valuable assets and to generate more value from those assets against a backdrop of rising consumer expectations around experiences and what consumers get for free. We will look at examples of how brands today are expanding and extending to generate millions in revenue through long-term storytelling, partnerships and the judicious use of technology. Finally, we will introduce a new methodology, called LASSO, and discuss how brands can use it to understand their expansion optimality and begin to capitalize upon it.
Each participant will select an established brand and over the course of the workshop determine its brand expansion optimality. Throughout the workshop we will challenge the participants to provide a detailed explanation of how their conclusion, and the relationship between the brand expansion component and relevant workshop material.
With the help of the brand expansion algorithm called LASSO, developed by Pete, you will be able to evaluate whether the chosen brand is under expanded or optimally expanded. Each participant will have guidance in determining how their own brand should be scored against each of the elements in the LASSO model.
Throughout the workshop Pete will work with the team to ensure that there is a clear understanding of how using the LASSO model can help your company meet is business objectives. Pete will recommend ways for the organization to work together to maximize the value of the brand and potential to expansion, so that it becomes an integral part of a go to business strategy.