A market that has been expanding considerably over the last few years (and still gaining much momentum) is healthcare. Being conscious about health has become a priority in our busy lives and many brands are taking advantage of the trend and jumping on board.
Grocery brands are making the easy step by expanding on an existing offering, producing organic or natural alternatives to their mainstream products. According to Nielson Company research ‘health-conscious shoppers are a valuable market’ and many brands are taking notice.
Other brands are taking it further and completely diversifying their offer even if they haven’t specialized in healthcare previously. Brands such as Philips and Bosch, originally recognised for electronics, have both entered into the healthcare market and now offer medical equipment such as Bosch’s Health Buddy which electronically connects patients with their healthcare providers. Using broad straplines of Sense and Simplicity and Invented for Life respectively, both brands have managed to successfully expand their business by tapping into an expanding market and diversifying their offer. They have captured a market that would have otherwise been long from their reach.
With brands such as these expanding into new markets, other players need to ensure they have a point of difference both with the products/services they have to offer and also their brand identity. This applies to not only brands whose primary focus is healthcare, but also other consumer brands wanting to follow suit from the likes of Philips and Bosch.
Are you a brand requiring a refresh to stand out? Or are you thinking of diversifying your offer and need to consider your brand strategy to achieve this successfully? Either way we’d love to hear from you to chat about how we can could assist.
Director of Brand Projects
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