When you think about La-Z-Boy (assuming you think about La-Z-Boy!), the first thought is probably a reclining chair in the rec room in front of a very large TV.
La-Z-Boy is an iconic brand and the recliner is a reflection of its 90-year-old corporate history.
But La-Z-Boy now offers different kinds of furniture, and it trumpets it in its advertising.
As a marketer, the key question is whether La-Z-Boy can convince consumers to look at the brand in a new way.
It’s like McDonald’s diversifying revenue by selling hot dogs. Sure, hot dogs are fast-food but there it wouldn’t align with the brand.
What does it take to create a new brand persona when your existing brand is so ingrained? Is it attracting new consumers? Do you play off the quality of your products? Can you pull off a brand extension exercise?
What do you think?