How can you introduce new brands or products without diluting your brand?
Introducing new brands or products can be a great way to expand your market reach, diversify your offerings, and create new revenue streams. But it can also pose a challenge for your brand strategy, as you need to balance the benefits of innovation with the risks of dilution. Dilution occurs when your new brands or products weaken or confuse your existing brand identity, reputation, or positioning. This can lead to lower customer loyalty, reduced differentiation, and increased competition. So how can you avoid dilution and maintain a strong and coherent brand portfolio? Here are some tips to help you.