Brand Strategist at Prism Creative | Helping change-makers confidently own their story to make a positive impact on the world and communities | 🪽Angel investor funding female-led startups
This Stanley cup 10-xed from making $70 million to $750 million sales in four years. From a basic hiking bottle to sold-out lifestyle accessory for women, their demand exploded. How did they do it? 🚀 TAP INTO A NEW PRODUCT CATEGORY The Stanley cup has long been associated with the outdoors. The company has been around for over 100 years, but only recently experimented beyond their product category. Positioning a brand in a certain category will create different: 👉🏼 ASSOCIATIONS 👉🏼 EXPECTATIONS 👉🏼 USAGE Example: A fruit juice markets itself like all their expected competitors as a healthy drink for kids. But it’s just another breakfast product. Plot twist: The fruit juice places itself in the soda category, standing out as a healthy alternative to sugary soft drinks full of additives. They bring a differentiating factor to their new competitors. 👉🏼 Same product, just a different frame of reference and context. Stanley did the same by jumping out of their product category of hiking gear. They leveraged on 100 years of trust as a heritage brand and added some pizzazz to appeal to a new market: Busy women who struggle with staying hydrated throughout the day. What are your immediate competitors within your category? How can you break free from them and unleash new growth opportunities?
