I am not yet convinced about this type of brand extension. It seems like a giant step away from their core business. I may be wrong - and I hope so, since I am one of their clients - but why would I choose to buy my kitchen-stuff in their stores? They are specialists when it comes to insurances, but not when it comes to trendy products for my kitchen. At least that is what I believe. They need to convince me. I don´t need that kind of excuse to get advice about my insurances. Or do I?When we extend our brand, we need to balance between being brave and being logic. Our customers will wonder what is going on if they can´t associate the brand with the new businessarea. At the same time, they will enjoy positive surprises.
In this case, I can´t really tell if this will be a flip or a flop. We´ll see - and let´s hope for a flip.
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Yes this feels a little a strange and not completely right.
An extension like this can help keep awareness high and bring fresh energy to the brand but it really needs brand permission.
It will either hurt the brand image with lowered perceived value or put the brand out of the reach of their loyal customers for not being consistent.
It's a thin line, we can only hope they will balance it correctly.
Today I had a meeting in a coffeeshop next to this insurancecompany-store. I could see clients coming into the store, asking about insurances and alarmsystems. I don´t think that anybody bought fancy kitchentools, though. The clerks were sometimes busy talking to clients on the phone, when there were no clients in the store. It is too early to say, but I am more positive to this concept now than before.
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