Strategic brand venturing : an intersectional idea

Purpose: The purpose of this paper is to outline a growth strategy and a conceptual model for large consumer packaged goods (CPG) firms that involves venturing with brand entrepreneurs to access innovative or disruptive new brands called “strategic brand venturing” (SBV). It aims to ground the model conceptually using the intersection of three domains: entrepreneurship, strategic management, and marketing. Design/methodology/approach: An emerging development among large CPG firms known for their branding and marketing prowess has been to create dedicated brand/consumer venturing units (e.g. Coca‐Cola, P&G, Nestle, Clorox, General Mills, Unilever) as a means of creating new growth horizons. The paper notes this recent development and opportunity. It offers a conceptual explanation of how to think about this using domain intersection literature and a practice‐based description of the dimensions involved in executing such a strategy. Findings: The paper is conceptual and practice‐oriented. No fieldwork was conducted. However, the work is based on industry practice and a longitudinal participant observation within a Fortune 100 firm over a five‐year period. Research limitations/implications: Researchers are encouraged to empirically examine this new option in further depth. Practical implications: The capability dimensions needed to execute are outlined. Originality/value: External corporate venturing in technology‐intensive industries is an established and growing practice. However, equity investments by large CPG corporations in entrepreneurial brand firms represents a corporate entrepreneurship opportunity that has hitherto received scant/no attention in the literature. A conceptual model is proposed based on industry practice but grounded in a novel use of domain intersection literature to encourage further action and research.