Most people know of the Fisher-Price brand and associate it with colorful toys for young children. The website says they are “the only kid brand dedicated to all the years between 0 and 5,” and they feature a tagline: “helping families enrich the first five years of childhood.”
Apparently, Fisher-Price has expanded its definition of kids to include the four-legged variety. PetSmart now offers a line of Fisher-Price dog toys — modeled after the iconic playthings many pet owners grew up with. The appeal of nostalgia, especially to pet parents who treat their dogs as children, might be strong enough to make the brand extension successful, but, once again, we see a company going way outside its core business. Fisher-Price is owned by Mattel, which creates “innovative products and experiences that inspire, entertain, and develop children through play.” Doesn’t sound like stuffed dog toys fit the global company mission either.
There is strength in a narrow niche, but if you broaden your product offerings, simultaneously expand your mission to include the new markets in your scope. Don’t say you’re one thing and then toy around with other offerings outside of your core.
