An old brand can be the ticket to new market share
Posted on January 23rd, 2009 by Marc Micheli | Filed under: Marketing News, Marketing in a Recession, Soap BoxLooking for a shortcut to increased market share? If you have opportunity, buy an old brand. Building a dominant brand in any market segment can take decades. In today’s market, some savvy companies are looking for fire-sale prices on old school brands.
The following article shared from Forbes.com tells the story of an entreprenurial company who purchased, of all things, the Gold Bond brand of medicated foot powder. Instead of updating the brand, the company smartly milked the old-school look of the brand and extended it to a myriad of personal care products.
Tags: brand extension, brand value, brand-asset, branding, market share