Mysore Sandal Soaps wants to launch a new premium soap brand called Mysore Sandal Millennium. To successfully launch the new brand, they should adopt a brand extension strategy using a blend of master brand and source brand architectures. This will connect the new brand to the existing popular Mysore Sandal mother brand to leverage its brand equity, while also maintaining a separate identity for Millennium. A snowball launch approach targeting a small initial customer base and slowly expanding is also recommended. The new brand should be positioned as differentiated from regular sandalwood soap through superior ingredients and benefits.
Mysore Sandal Soaps wants to launch a new premium soap brand called Mysore Sandal Millennium. To successfully launch the new brand, they should adopt a brand extension strategy using a blend of master brand and source brand architectures. This will connect the new brand to the existing popular Mysore Sandal mother brand to leverage its brand equity, while also maintaining a separate identity for Millennium. A snowball launch approach targeting a small initial customer base and slowly expanding is also recommended. The new brand should be positioned as differentiated from regular sandalwood soap through superior ingredients and benefits.
Mysore Sandal Soaps wants to launch a new premium soap brand called Mysore Sandal Millennium. To successfully launch the new brand, they should adopt a brand extension strategy using a blend of master brand and source brand architectures. This will connect the new brand to the existing popular Mysore Sandal mother brand to leverage its brand equity, while also maintaining a separate identity for Millennium. A snowball launch approach targeting a small initial customer base and slowly expanding is also recommended. The new brand should be positioned as differentiated from regular sandalwood soap through superior ingredients and benefits.
Mysore Sandal Soaps wants to launch a new premium soap brand called Mysore Sandal Millennium. To successfully launch the new brand, they should adopt a brand extension strategy using a blend of master brand and source brand architectures. This will connect the new brand to the existing popular Mysore Sandal mother brand to leverage its brand equity, while also maintaining a separate identity for Millennium. A snowball launch approach targeting a small initial customer base and slowly expanding is also recommended. The new brand should be positioned as differentiated from regular sandalwood soap through superior ingredients and benefits.
Question: What strategies should a company adopt to launch a new brand, which is going to be a part of its portfolio? (With respect to the case study on Mysore Sandal millennium)
KS&DL is the owner of the Mysore Sandal products
and they decided to launch a super, premium luxury product for the high end segment. For any company to launch a new product in its existing portfolio, it is very important that they understand how they want to position their product so that it is in sync with the brand image of the parent company and its existing products. They should adopt a certain brand architecture, look at differentiation strategies and keep a tab on their NPD activities. For Mysore sandal millennium soap to enter the market and adhere to its current brand Mysore Sandal Soap, the following measures can be taken:
Mother Brand : Mysore
Sandal Brand: Millenium Modifier: Super premium soap
MYSORE SANDAL MILLENIUM
The whole packaging
here shows that they have decided to follow a blend of Master brand architecture and Source Brand architecture
The strategy they have adopted is a BRAND EXTENSION strategy. They have aimed at a VERTICAL EXTENSION strategy. ( aimed at category extension). 1. In order to enter an existing portfolio, the brand must be in sync with the mother brand. 2. In case of Mysore Sandal millennium, the owner name which is KS&DL doesnt have any relevance. The mother brand Mysore Sandal has all the brand equity. Thus, when any brand is launched, it should adopt the mother brand in its name connecting the existing customers to it. 3. Being a luxury segment brand, it is important for any brand to adopt Source brand architecture since the customers only relate to the mother brand name. However, this can have a negative impact on the brand identity of Millennium if people perceive it as any other sandalwood brand.
4. Snowball strategy can be used wherein the company decided only to target a small number of customers and then slowly build their base. This is important for a brand since if it fails, it shouldnt have a negative impact on the portfolio 5. The makers should position the product in such a way that customers know it is different from the regular Sandalwood soap. This can be done via ANSP sources. 6. In the future, Millennium should aim at becoming a CATEGORY in the portfolio. The brand should be a balanced portfolio and hence when the soap reaches a point of saturation, they should aim at extending the category by introducing new products in the millennium range. However, the purity of brand has to be considered while taking these decisions. 7. Track the progress of the brand and monitor its Product Life cycle. Check and recheck. 8. Being a premium ranged product, differentiation from competitors is essential to take a unique place in the market as well as the brand portfolio. They can position themselves as a sweet smelling, environment friendly soap with the finest, fresh ingredients. 9. Thus, in order to launch a new product, many factors have to be considered.
