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Brand Extensions Create Value for Customers and the Company

5/30/2015

Corporate Challenge: An alcohol beverage company made a flavored beverage that became an instant success and created a new market category. Competitors entered the market space and took away market share.

Ironbound Strategy: Create different versions of the popular product to grow the market category. Use the same brand name to leverage success for the new products. Testing the new products in markets where the brand is most popular will create value for the brand.

Ironbound Action: Jefferson’s, Four Roses, and Jim Beam all began with successful and popular standard Bourbons. They each leveraged the success of their brand to create up-market premium products and inexpensive entry level products. These vertical brand extensions allow more consumers to reach for their preferred brand instead of switching to a competitor.

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How Creating Employee Value Improves Risk Culture

5/10/2015

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Corporate Challenge: Some “too big to fail” institutions are failing to motivate employees to prudently manage risks. Fraudulent activities are ramping up fines, legal costs, and settlement charges while putting the banks’ reputation at risk.

Ironbound Strategy: Top management needs to create more value for employees to better engage them in risk culture. Creating employee value builds a stronger brand that affiliates pride and encourages better decision-making.

Ironbound Action: At Wells Fargo & Company (the world largest bank by market value), the executive team refers to employees as “Team Members”, and the bank as “our company”. The inclusive language is an example of a simple way to create value for employees, and a surefire way of improving risk culture.

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Welcome to the blog of Ironbound Consulting Group

5/10/2015

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The objective of our blog is to present simple solutions to complex problems that face large companies and their executive teams.

Unlike other strategy consulting firms, our strategies focus on creating value for Employees, Customers, and Society.

Strengthening these three core segments builds a stronger brand. By focusing on brand development, companies reduce their internal risk, increase their revenue, and position the company to be the market leader.

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Brand Extensions Create Value for Customers and the Company

How Creating Employee Value Improves Risk Culture

Welcome to the blog of Ironbound Consulting Group

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