French writer André Maurois called business “a combination of war and sport.” Others have likened it to a jungle. There’s some truth to those characterizations, of course. The world of business is marked by hungry competitors in a constant battle for a bigger share of market. And, as in the jungle, any business or brand that stays in one place too long increases its odds of falling prey to more agile and powerful predators. This is particularly the case today, a time when giants can be built on the back of a single powerful idea.
From to Google, eBayto Apple, we’ve seen how quickly new competitors can rise up and shake up entire industries — or even invent their own.
For brands, it’s imperative in this environment to keep moving—to keep growing and changing and progressing into new territories. This movement needs to be strategic, though; stretch a brand too far in the wrong direction, and it is liable to break. So, what are the rules of brand extension? What sort of new and different things can a brand aim to do? If Virgin, which started off selling LPs, can go into airlines, trains, broadband, mobile telephony, insurance, vacations, carbonated drinks, music, radio, and space tourism, does that mean the likes of Atlantic Records or Def Jam could follow suit?Page 1 of 5 | Next Page