Rebranding an existing product for a new market

[glory22]

If the title doesn't make sense I don't know how to word it. Let me explain...

I have an idea for a product, in a specific industry where the product does not exist. However, the product DOES exist in a separate industry.

For example: Lets say the product is Windex, (all patents and trade secrets aside) Could I take the windex formula, put it in a complete different bottle, and sell it as a laundry detergent? So I will be taking an existing product, rebranding it and marketing it to a completely different industry.

Is this done in the business world? Is it successful?

[PhillM]

Yea, 7-Up was an over-the-counter medicine before it became a soft drink. There's quite a few examples of this. If it works for both industries exploit it.

[MMarley]

I'm in the process of rebranding my product (software) for seven different branches of the market. It's basically the same product (core) but the difference is on the target consumer.

[glory22]

MMarley: is the core software your design, or the design of someone else? I'd like to hear more about the process. Would you be willing to chat about it in more detail?