“Brands Expand Into New Niches With Care, but Not Without Risk,” a recent NYT article, was full compelling brand extension stories. It also contained examples in which I found myself saying, “What were they thinking?” Here are some examples from the article of both ends of the spectrum. The tagline of British luxury sports car brand Aston Martin (if you have to ask the price, you cannot afford it) is “The Art of Living.” Its recent extension into exclusive Miami Beach condos makes sense, following the tracks of its luxury speedboats, menswear, and jewelry. Aston Martin is selling exclusivity. Appreciate its designers, and you will enjoy Aston Martin’s world. Harley Davidson did the same thing, extending into clothing, home furnishings, and experiences, albeit for a different target market. But as to lighter fluid manufacturer Zippo moving into women’s fragrances, what were they thinking?…
The Power of Purpose
Calling. This word is important for both an individual and an organization. On an individual level, a calling is the driving force – moving through many roles – that brings meaning or deeper purpose to the totality of your work. I like to think of my calling as my True North. It captures how I put my unique background and skills to work to make a positive difference for others and realize more of my potential. I recently read Jeff Goins’ The Art of Work: A Proven Path to Discovering What You Were Meant To Do (Nelson Books, 2015). Better than any other book I have read on the subject, Goins articulates that a calling is unearthed not decided. Furthermore, finding and acting on a calling is work any of us can pursue. But to succeed, we must step beyond the fear of…
A winning membership business model
The woman wore brown leather hot pants, a beige silk blouse, dangly earrings and over-the-knee black heeled boots. Thankfully, she was thin. Her partner, also in his late 20s, wore grungy jeans and an expensive leather jacket whose collar hit his rock-star-length locks. Next to them was an elderly Hispanic grandmother trying to keep tabs on three grade-schoolers, most likely children of her working daughter or son. An elderly blond women, her face the work of a terrific plastic surgeon, stood comfortably in very high-heeled shoes. Her Channel sunglasses matched the color of her Fendi handbag. Added to the mix was a teenage male covered in tattoos, wearing black flannel Turkish pants and a sleeveless matching top, despite the 72-degree weather. Each shopper’s cart was brimming, all with very different mixes of merchandise and groceries. Welcome to Costco where you feel you are…
Business model innovation involving toilets, yes toilets
I never thought toilets could be so interesting. They provide a rich example of thinking beyond traditional product concepts when pursuing innovation to unearth smarter systems innovations. A narrow view If this is the toilet, I thought, bring on the shower. On a work trip to Shanghai, P.R.C., my hotel room’s high-end bathroom included a combination electric toilet and bidet. Walking towards it, the seat cover rose, offering a heated toilet seat. After I selected water temperature, direction and pressure, integrated water and air jets washed and dried my derriere. I might have survived Girl Scouts had this toilet been available in its campground outhouse. Manufactured in Kyushu, Japan, Toto and its competitors have placed this high-end version of a necessity in 65% of Japanese homes, as of early 2008. The only other nation with high penetration is Korea, although judging by the…