BRANDS, CUSTOMERS AND PRODUCTS FINDING THE OPTIMAL SOLUTION WHEN INCLUDING A NEW PRODUCT TO A WELL KNOWN BRAND
The aim of this thesis is to define the optimal branding strategy for a new product; the InSure FIT Test; into an existing company with a well known brand; HemoCue AB. This product will be the first in a row of new products that HemoCue will distribute, that has not been developed and manufactured by the company. Design management refers to an approach whereby organizations make design relevant decisions in a market and customer oriented way as well as optimizing design relevant processes. The thesis uses a design management approach by analyzing the brand, defining the customer and their wants and needs, and identifying the added values of the product. The brand is analyzed first, and three different branding alternatives are presented, namely brand extension, co branding and distribution only. Face to face interviews are performed with both internal and external customers of HemoCue AB to understand their image of the company. The customers' images are compared to the identity that the company wants to transmit. After this the customers of the InSure products are identified, and Persona for the different customers are created. The creation of persona enables us to understand the users' wants and needs. Last the InSure product is analyzed, identifying how it fits into the Mission, Vision and other statements that HemoCue makes. From the information gathered SWOT analyses are performed on each branding alternative. The most important criterion are weighted and the branding alternatives are weighted in regards to the branding alternatives. The conclusion is made that the co branding alternative is the optimal branding solution for the HemoCue company, as well as providing several benefits for the InSure product. This suggested branding solution may also be useable for the future portfolio extensions in the HemoCue and Quest Diagnostic companies.