August 18, 2005
News & Opinion: Scott Bedbury on wearing spandex
Scott uses that metaphor when discussing brand extensions or brand "stretch." Brand extension is another polarizing concept. Some say focus, focus, focus. Here's what I say (page 125):
"Companies are finally realizing that their most powerful assets are not their buildings, bank accounts, or even technologies. It's their relationship with their audience. The rpoblems arise when a brand tries to be all things to all people. Instead, develop a core attitude with your core audience and be as many things as possible to them."
Do you know Curtis Jackson? He's an entrepreneur. Adam Matthews, in the New York Daily News, said that Jackson (a.k.a. 50 Cent) "may soon be ready for the Fortune 500.>"
50 Cent's company, G-Unit, produces just about everything - music, clothes ($100 million in sales last year), shoes, watches, water, video games, films, and television shows.
What are your thoughts on brand extensions now? ;)
About Dylan Schleicher
Dylan Schleicher has been a part of the 800-CEO-READ claque since 2003. Even though he's stayed on at the company, he has not stayed put. After beginning in shipping & receiving, he joined customer service and accounting before moving into his current, highly elliptical orbit of duties overseeing the ChangeThis and In the Books websites, the company's annual review of books and in-house design. He lives with his wife and two children in the Washington Heights neighborhood on Milwaukee's West Side.