Can One Product make a Brand?

Can one product make and sustain a branded business? This question came up during a discussion last year. The views at the time were opposing – some thought it could (and should), some were clear that a range was needed. My view was instinctively that a range would be needed to move forward. However, for me, the timing of new introductions, what type of product and how it is executed are the key points to consider.

Many brands start with one product but grow substantially only when more are developed (though Coca Cola had just one product for 97 years). This is especially true in the world of apparel and footwear. Coke vs. Apparel is a good illustration of the context in which the question can be answered for each case. Coke is at one extreme as it is a product that can be consumed several times a day, where as an item of clothing can last for years. One could argue that the clothing is being 'consumed' every time it is worn, but the business / brand only gets the money once. The question of one product or a range becomes more pertinent with regard to how much of, and how often the product is likely to be consumed.

What then is the ‘right’ amount of time needed to establish a brand centred round producing one innovative and brilliantly executed product before the brand can then lend its name to other products? The answer will be different in each and every case

Here in lies the challenge for a start-up that is now a year or two old. Whether well funded or tight for money, it will be tempting to throw in all sorts of items that can quickly bring in sales; either because the cash is needed or rapid growth is desired. Reaching out to find new customers is of critical importance, but not having much money can make this tough. You’ve got a core of followers and some have even bought more than one item, but what now? In order to keep their interest and gain repeat business, you need to sell them something new. At the same time, however, you want to retain a certain ‘purity’ to your brand as you attract new customers.

The timing of introductions has to be based on how secure the brand is in its positioning and who is actually buying the product. If the core following love the brand for all the reasons that you want them to, then they are likely to buy related products that continue to embrace the brand and its values. This does not restrict your ability to reach out to new consumers. The headline message should still be built around what the brand stands for as demonstrated by that first product which is helping to build your reputation.

The critical question for what type of new product to add is; ‘does it add value to the brand and embrace its values.’ If the answer is yes, then carefully developing this product so that it does actually represent the brand is the way forward. The best start point is probably in adding variants of the core product. As the business progresses it is likely that associated product types will be required to fuel growth. It is a hard discipline to follow when an immediate need for sales and cash flow might be pressing, but decisions should be made by considering the long term interests of the brand. As long as the question ‘does it add value to the brand and embrace its values’ is satisfied every time a new product type is introduced, then the future for the brand should be bright.

#product #brand #range #rangemanagement #brandvalues #newproducts