Customizable online tool helps brand owners evaluate an effective extension strategy; uses proprietary quantitative and qualitative metrics to guide brands through opportunity and partner selection processes
June 2, 2015, New York, NY., - Blueprint – Powered by Beanstalk (Blueprint,) the consulting division of global brand extension agency Beanstalk, today announced the launch of a powerful, online tool designed to help brand owners evaluate prospective brand extensions. The Brand Extension Indicator, or BXI, was developed by Blueprint as a solution to a growing need for evaluative tools that can help brands apply a customized approach to brand extension opportunities.
Built on the agency’s decades of experience in brand extension and partnership selection, BXI utilizes qualitative and quantitative metrics to determine how potential extensions align with a brand’s equities and assesses the viability of entry into future market segments. The tool also enables the brand to consider the suitability of partner candidates with greater rigor.
“Brands are continually trying to understand how they can offer compelling new products and services in an increasingly fragmented and evolving retail landscape,” said Nicole Desir, executive director of Blueprint. “Based on the results provided by the BXI tool, clients can determine if they should pursue extension opportunities as well as work with our team to build out a more comprehensive strategy.”
How BXI Works
BXI is ideal for organizations that have had some brand extension experience and are seeking to incorporate smart practices and better analytics as they evaluate opportunities on an ongoing basis. Utilizing a proprietary rating system tied to an assessment that is designed specifically for the individual needs of a brand owner, BXI creates a weighted recommendation about the quality and possible red flags of a potential brand extension and partner. By using the BXI interface, brand managers will now have a consistent methodology to evaluate proposed brand opportunities and determine whether they will likely deliver a positive impact on brand value and their business objectives.
“When a brand wants to execute an effective brand extension strategy, there are mission critical questions that should be asked, and key considerations that must be properly evaluated,” continued Desir. “The BXI tool takes all questions related to both product and partnership into consideration and crafts an analytic and goal-oriented recommendation to identify which brand extension opportunities can be lucrative, brand-building investments.”
About Blueprint – Powered by Beanstalk
Blueprint, the consulting division of global brand extension agency, Beanstalk, advises companies on how to evolve their brands through innovative and commercially viable brand development and extension strategies. Blueprint works with brand owners, retailers and manufacturers to evaluate and analyze their distinct needs and provide a road map to open doors to new markets, audiences and revenue. Building on decades of brand wisdom and execution experience, Blueprint advises clients through four key practice areas: brand extension + retail development, research + insights, design + identity, and operations + governance. To find out more, visit www.beanstalk.com/Blueprint.
Beanstalk, a global brand extension agency, works closely with our clients to unlock brand equity and create many of the world’s most recognizable products and services. We help leading brands, celebrities, media properties, manufacturers and retailers creatively find ways to strengthen their relationship with their most important stakeholder – the consumer.
Beanstalk offers a breadth of services including brand representation, manufacturer representation, retailer partnerships, creative services, approvals management, legal and financial services, and royalty auditing. Blueprint – Powered by Beanstalk, our consulting division, advises clients through four key practice areas: brand extension + retail development, research + insights, design + identity, and operations + governance. Tinderbox, our digital division, works with gaming and new media properties to realize their potential in the world of consumer products.
The company is headquartered in New York, with offices in London, Los Angeles, Miami and Cincinnati, and affiliates throughout the world. For more information, please visit www.beanstalk.com. Beanstalk is a part of the DAS Group of Companies.
About The DAS Group of Companies
The DAS Group of Companies, a division of Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com), is a global group of marketing services companies. DAS includes over 200 companies in the following marketing disciplines: specialty, PR, healthcare, CRM, events, promotional marketing, branding and research. Operating through a combination of networks and regional organizations, DAS serves international, regional, national and local clients through more than 700 offices in 71 countries.