Beanstalk Launches New Online Tool
Blueprint, the brand consultancy division of global brand extension agency Beanstalk, has debuted the new Brand Extension Indicator.
The Brand Extension Indicator, or BXI, is a proprietary, customizable online tool that guides brand owners through the opportunity and partner selection processes. It utilizes quantitative and qualitative metrics in two key areas: fit with a brand’s equities and viability of entry into prospective market segments and suitability of partners under consideration.
“Brands are continually trying to understand how they can offer compelling new products and services in an increasingly fragmented and evolving retail landscape,” says Nicole Desir, executive director, 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.”
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.