GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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an industrial branding strategy
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a mixed branding strategy
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a co-branding strategy
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a brand extension strategy
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Detailed explanation-1: -Brand extension is a marketing strategy in which an organization that markets a product or service with a well-developed image uses the same brand name but in a different business category.
Detailed explanation-2: -Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category.
Detailed explanation-3: -A brand extension is when a company uses one of its established brand names on a new product or new product category. It’s sometimes known as brand stretching. The strategy behind a brand extension is to use the company’s already established brand equity to help it launch its newest product.
Detailed explanation-4: -Here are four common brand growth strategies for businesses looking to extend their services or product offerings. The four brand strategies are line extension, brand extension, new brand strategy, and flanker/fight brand strategy.
Detailed explanation-5: -Umbrella branding (also known as family branding) is a marketing practice involving the use of a single brand name for the sale of two or more related products. Umbrella branding is mainly used by companies with a positive brand equity (value of a brand in a certain marketplace).