Branding is a strategy that organisations follow to create a unique name, logo, tagline, symbol etc. for their products or services. It helps them spread awareness about their product/company, differentiate it from competitors, establish a connection with customers and build trust. Show
Below is a list of multiple-choice questions and answers on Branding to help students understand the topic better.
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What is it called when a company uses an established brand name on a new product within the same broad market?Brand line extension - Using an established product's brand name to launch a new, slightly different item in the same product category.
What is a company with multiple brands called?What Is a Multi-Brand Strategy? A company has a multi-brand strategy when its portfolio of products has distinct brands or names. For example, Nestle has a multi-brand strategy with over 2000 brands including KitKat and Nespresso.
When two or more existing brands are combined into a joint product?also called 'brand bundling' or 'brand alliances' — occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion. 1. both brands should have adequate brand awareness; sufficiently strong, favorable and unique associations; and positive consumer feelings.
Why do you think companies use the same brand name for many different products?Firms sell multiple product lines under their various brand names, often differentiating by price, quality, country, or targeted demographic. Businesses often expand their offerings by adding to existing product lines because consumers are more likely to buy products from brands they already know.
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