A Markenfels approach that encourages companies to critically question the creation of new brands and instead strengthen the existing brand. Three principles lead to success:
As few brands as possible: Companies should try to integrate as many products and services as possible into their existing brand. This saves money and resources and strengthens the existing brand.
Outside view instead of inside view: Take the customer’s point of view. What strengthens their trust, what reduces the risk of a product launch, how to win new customers as easily as possible?
Use existing assets: Are there strategic reasons for creating a new brand? In this a case, it is worth checking whether an existing brand in the portfolio can be used for this purpose. This saves time-consuming trademark registrations and ideally makes use of the existing brand awareness.
