Source: Reuters
Summary
Lectric, a company that sees the U.S. market as ripe for competition and choice, has introduced three new brands in the past six months. The company did not disclose the names of the new brands or their focus areas. Lectric’s move is seen as an attempt to capitalize on the growing demand for new options in the market. The company’s strategy involves launching multiple brands to cater to different customer segments.
Our Reading
The launch follows a familiar script.
Lectric’s new brands are the latest in a series of attempts to shake up the U.S. market. Yet another company is trying to capitalize on the “ripe” market. Three new brands in six months sounds ambitious, but is it really? The company’s strategy is to launch multiple brands, because one is not enough. This is just another case of “choice” through branding.
Author: Evan Null
