GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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brand extension strategy
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mixed branding strategy
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co-branding strategy
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co-trademarking strategy
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Detailed explanation-1: -Brand equity helps build the relationships between the perceived benefits and perceived costs that people relate to that product. As a result, nobody questions the prices of Hermès goods. When people see the brand, they assume it must be good. That’s why they are ready to pay the high price for a Birkin bag.
Detailed explanation-2: -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-3: -A brand is a product or service which help the organisation differentiate their products or services from others. The role of brand come in critical for the organisation as it translates into loyalty and higher margins in the long run.