Mansi's Blog

BEST BRAND EXTENSION IDEA: GOOGLE BANK

I believe the concept of “GOOGLE BANK” will stand out as a powerful brand extension idea based on leveraging the concepts of brand management we will explore further. Before moving forward let us have a look at the concept logo for the Google Bank based on Google style. 

Concept Google Bank logo

Let us explore some reasons why “GOOGLE BANK” is a powerful brand extension idea.

• Brand trust and recognition:
  Google is recognized globally in almost each and every household around the globe. The brand is successful in establishing trust through its high-quality services. Users tend to have positive associations with the brand such as user-friendliness, reliability, and innovation. Google has a strong track record of maintaining and safeguarding data with high-quality standards that instigate trust in its audience.
  This immediate recognition and trust build a sense of familiarity and credibility which can help the company to attract potential customers for its new extended service line. The brand’s commitment to securing data and privacy can build confidence among users and it can make them more inclined to trust Google Bank with their financial information.

Google Reviews are an example of Google’s Brand trust and recognition

• Brand Resonance:
  Emotional Connection and Behavioral Loyalty: It will be easy for Google Banks to gain customer loyalty and develop connections because Google is already successful in doing so. The users feel connected to Google because it is a part of their lives, almost every individual relies on it on a daily basis and this trust and connection will help the users to adopt Google Banks. The positive association with Google will be beneficial for a new service extension of Google Banks by Google. The emotional resonance will enhance behavioral loyalty, motivating and encouraging users to captivate with new financial services effortlessly fused into their digital lives.

•  Brand Positioning:
  This extension aligns smoothly with Google’s core mission and values. Positioning Google Bank as a natural modification and evolution of the brand.

An example of the positioning statement for Google Banks.

• Authenticity:
  Google Banks will be able to maintain its authenticity by staying true to Google’s values, positioning, and mission which is to stay committed to providing and fulfilling customers’ satisfaction and needs respectively. The move into the banking sector will be taken as a genuine progression due to its existence in the digital payment method that is “Google Pay”, as it is a mobile payment service developed by Google to make contactless purchases on a mobile device, enabling users to make payment in-app, online with their Android phones, tablets or watches and people tend to trust Google Pay as it is a very simple and easy way to manage money. This authenticity will nurture a feeling of trust, loyalty, and credibility which are the pillars of financial service.
  
• Integrated Ecosystem:
  Google Banks will be able to incorporate coherently with other Google services creating and maintaining a cohesive ecosystem for users. This integration can intensify user engagement, stimulating users to use Google Banks for their financial needs due to the ease of the all-in-one digital ecosystem. 

In conclusion, Google Banks would emerge as the best brand extension idea because of Google’s brand positive association, brand trust, and recognition. Google’s dedication to enhancing customer satisfaction, customer bond with Google, and a user-centric approach will prove significant for Google Banks. This move not only aligns with the market trends but will also position Google as an emerging player in the progressing perspective of digital financial services.

WORST BRAND EXTENSION IDEA: NETFLIX SNACKS

As it’s crucial to note that the success or failure of a brand extension depends on various factors, below are some of the  reasons why I believe the “NETFLIX SNACKS” extension might be considered a challenging or potentially unsuccessful idea:

• Brand Identity Confusion:
  It is significant for every brand to maintain its identity and if the introduction of snacks does not align with the brand’s image, value, and identity, it will leave confusion among users because the line of snacks does not go well with Netflix’s business strategy and competencies. It will just leave customers skeptical of a brand entering into a completely new product line without any noticeable connection.
  

Netflix Snacks concept, would you try it?

• Lack of Strategic Alignment:
  Being an online digital streaming and entertainment platform, introducing snacks could create uncertainty about the brand’s mission and its strong association with providing customers with on-demand video content. If there is no clear association between Netflix’s streaming service and its snack products line, it will lead to customers questioning the brand’s authenticity and the purpose of the extension.
  
• Impact on Brand’s Storytelling:
  Brand Storytelling is a crucial feature of effective brand management. It consists of creating and maintaining a story in such a compelling and relatable way that is easy to communicate with the audience. It should also resonate with its audience in order to maintain an emotional connection between the consumers and the brand. In the context of a brand extension like “Netflix Snacks,” the statement and narrative should match the existing story of the brand coherently. The story that Netflix has built successfully revolves around providing high-quality, demanding streaming services, offering a wide range of the latest entertainment options to satisfy their customer’s needs. Here, I don’t feel the extension of snacks seems to fit perfectly with the brand, leading to the emergence of a sense of inauthenticity among the users.
  
• Brand Loyalty Impact:
  Introducing a new product category has a huge impact on brand loyalty, product extension of snacks will impact the current customers of Netflix leaving them confused. The subscribers who are loyal to Netflix for its streaming services may feel distracted and disorientated by this new launch. It is vital for every business to gain insights before launching or releasing any new product or service line if Netflix fails to gather valuable insights into customers’ tastes and preferences for snacks and launch a product that fails to resonate with its target audience. This can also lead to a decline in brand loyalty.
  
• Operational Complexity:
  Managing a brand extension is an extremely daunting and challenging task as it requires expertise in the new product or service category. Being a digital streaming and entertainment platform, Netflix may face some operational challenges in terms of production like what snacks they should opt for, distribution channels, and quality control measures, especially if they lack expertise and experience in the snack industry.
  
  
  

To summarize, the success of brand extension relies on the brand’s identity, mission, and values. “Netflix Snacks” extension could face the above-mentioned challenges making it difficult and less favorable to survive in the competitive market. Because of the discussed factors, it may come out as an inauthentic brand that does not resonate with people making it a failure in the food/snack industry.