Brand name extension insights from bieber and trump

What do Justin Bieber and Donald Trump have in typical? In addition to mops of hair! Equally men (we can't truly get in touch with 17 12 months-previous Bieber a man yet) are driving main manufacturer extensions - they're very own.nThe Donald's manufacturer might have commenced in genuine estate, with place of work buildings and hotels littering many metropolitan regions. But the Trump title now seems on vodka, well being merchandise, mattresses, home furniture, cuff links, shirts, ties, and even a seminar organization. Trump's most current extension pursuit is golfing courses, as he is developing a billion dollar golfing course in Scotland to add to the 9 golf houses he previously owns.nJustin Bieber's aspirations seem to be to be just as ambitious. He's released his personal line of headphones, nail polish, and even scented pet tags (no, I'm not producing this up.) Recent rumors suggest he is preparing to launch his possess retail retailer as effectively as a line of Snack Pak pudding cups.nOn one amount you could lump Trump's and Bieber's brand name extension pursuits collectively and chalk them up as the type of hubris and greed that looks to occur with movie star territory. They are merely joining the ranks of others stars who have built company empires by trading off of their names.nBut there are important insights to be realized from them about brand extensions. In fact it's the differences between the two guys' approaches that is most revealing:nMotivations - Trump looks to be pursuing manufacturer extensions as an exploitation of his brand name, while Bieber's moves seem to be to much more of an expression of his.nIn a BusinessWeek post, Trump clarifies the achievement of his endeavors saying, "[My] name is hotter than at any time...it's been sizzling as a pistol." The piece reviews, "Right after having a break to greet Kate Gosselin, star of the onetime truth demonstrate Jon & Kate Additionally 8, Trump suggests: 'If Trump wasn't performing properly, the stars do not occur up and kiss my ass.'" Trump plainly acknowledges the value of his title and he's employing it as leverage for company bargains.nBieber, on the other hand, appears to look at extensions as an expression of himself. In a movie introducing his new headphones, he points out their purple coloration stating, "It's my favored color. I just consider it represents me the greatest." And the colors of his nail polish collection are reportedly impressed by his songs: Me + Blue is dim blue and One particular Considerably less Lonely Girl is a girly lavender.nGuardrails - The main judgment call of any brand extension is regardless of whether or not the new merchandise or category is acceptable for the model. Powerful brand name administrators implement guardrails to delineate what is appropriate and what is not.nIn Trump's circumstance, the guardrail he applies is manufacturer-dependent. In a 2006 website publish, he wrote: "I've worked difficult to make sure the Trump name is identified only on properties of the maximum caliber and items of the best quality. I won't even contemplate giving my acceptance to anything at all unless of course I know it really is the best of the line since when folks see or listen to Trump, they anticipate the best." To Trump, the high quality his manufacturer is linked with is the major guardrail within which an extension need to lie.nBieber's guardrail is supporter-based mostly. His assertion in an job interview with Rolling Stone journal - "I really don't believe of myself as powerful. If something, my followers are powerful. It really is all in their fingers." - reads like an overall philosophy as effectively as his technique to model extensions.nWith teen ladies and the products they love as his information, decisions about what is proper appear effortlessly for him. That is why it doesn't seem to be odd that a male celebrity would produce a woman solution like nail polish. David Reeder of expertise company Green Light noticed in a Brandweek post that Bieber's extensions "make sense to his core viewers, so there is absolutely nothing fully off-brand for him."nBusiness relationships - For Trump, manufacturer extensions are a solo endeavor. Most of his discounts are acquisitions or improvement plays. It's the classic true estate method - there is a consumer and a vendor, and after the transaction closes, there is a single operator. He may possibly work with yet another entity to build a product, as he did with Talbott Teas to produce new tea blends or with PVH to create his apparel line, but the end solution is usually branded Trump.nBut Bieber is all about partnerships. It is an technique he very first employed with his job. He commenced out by taking on Usher as a mentor and unveiled early hits with him and Ludacris. Much more not too long ago he's collaborated with musicians like Kanye West. His manufacturer extensions mirror a related collaborative strategy.nThe aforementioned headphones ended up produced in partnership with Monster and Dr. Dre and are branded "Just Beats." The nail polish line is a outcome of a collaboration with Nicole by OPI and is known as the One Significantly less Lonely Girl assortment. Bieber is pointed out in advertising materials but his identify doesn't look on the merchandise.nThey're two entirely diverse techniques to brand extensions - neither is right or wrong - just diverse. Trump has taken the tact that most firms do with brand extensions. Most organizations look to brand name extensions to leverage the value of a manufacturer title in numerous groups, so they take an strategy that exploits the current brand fairness, uses the brand as the filter for choices about appropriateness, and asserts the manufacturer in the end solution.nBieber's method is much less conventional and not without having downsides. Permitting appropriateness selections to be pushed by your clients vs. the model has the possible to consider your model off program. And by undertaking co-brands or partnerships, your model might derive significantly less benefit from the extensions. But the Bieber strategy might resonate more with your target audience, as it conveys a lot more humility and adaptability.nI really like how brand name insights can be derived from a sixty six calendar year outdated company tycoon and a 17 calendar year old pop star alike!nother posts about manufacturer extensions:nngarden clean restaurants apply new company conceptsnnbrand-creating: yohn on riesnnunderwear that's exciting to usenRead much more posts on Manufacturer as Organization Bites �nFar more from Brand name as Organization Bites:nbrand book bites from manufacturer building in a electronic, social, mobile age nnoperationalizing the tedxsandiego manufacturernnscott goodson on creativity as a strategic benefit