In this Brand expansion simulation event, participants will be given a leading Company name and will have to identify & suggest a new unrelated product category in which the given Company should venture into. It’s an event to test Business Acumen and Analytical Approach of the participating teams. Focus of the event will be on the ability of teams to identify and evaluate strategic fit between proposed product segment and existing business of the company and how is the new proposed product leveraging the distinctive properties of the company. Company names are given in detailed rules for the event.
Participation: 2 members in each team (maximum 2 teams per institute) .
(Brand Expansion: A Strategy Simulation to explore new Horizons/Vistas)
Very often well established, successful companies leverage their brand image, existing customer base and brand loyalty to launch completely unrelated, new product in a different product category. A successful example of Brand Stretching or expansion is Disney’s Journey starting from a Movie Company in 1920 and thereafter expanding their presence into Theme Parks, Music, Retail, Merchandise, Games/toys, Vacations etc. Other notable examples are Virgin Group, ITC, Tata-Sons etc, extending their presence into different product categories by consistently launching new products and services as Sub-Brand.
In this event participants have to identify, evaluate and present logical brand extension for any one well established brands out of- Apple Inc., Future Group, Domino's Pizza, Delhi Public School, Volkswagen group, Apollo Hospitals.
Points to be included in brand expansion idea/strategy are:
. Executive Summary
(A description of proposed Product or Service)
. Brand Fit
(Strategic Fit between proposed product category and existing products)
. Brand Leverage
(How is the new product leveraging the distinctive properties of existing brand like brand image, brand loyalty and existing customer base that provide a competitive advantage)
. Industry and Competition Analysis
(Trends, Overview of competitive landscape)
. Strategic measures, Risks/challenges Plan
A participating team should comprise two members. Teams have to make a presentation of 8-10 minutes followed by questions from Judges Panel. Judgment criteria will be on the basis of Thoroughness of Plan, Unrelatedness with existing products, Value Proposition, Brand Fit, Brand Leverage and Market acceptance of proposed product.