HP®, one of the world’s most recognizable and most powerful brands, wanted to strengthen its brand position in an increasingly competitive environment by identify brand extension opportunities in new products and services that would appeal to a new range of consumers and small business customers.
LMCA identified strategic brand extension opportunities in new products and services that would deliver incremental revenue, increase brand touch points, and appeal to a new range of consumers and small business customers.
LMCA’s ProdigyWorks subsidiary identified almost $50 billion in global market opportunities for the HP brand and conducted quantitative research to assess brand fit and product appeal to both consumer and small business markets. Against a filter of brand goals and market sizing intelligence, LMCA signed licensees for mobile projectors, shredders and document finishing equipment, and specialty paper media.
HP’s new product extensions helped the brand expand into complementary product categories that enhanced HP’s core brand equity and created new opportunities to connect with consumers and increased revenue growth.