When A Company Uses A Product Line Extension, It Quizlet Marketing?

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When a company uses a product line extension?

A product line extension is the use of an established product’s brand name for a new item in the same product category. Line extensions occur when a company introduces additional items in the same product category under the same brand name, such as new flavors, forms, colors, added ingredients, or package sizes.

What is a line extension quizlet?

Line extensions. The development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs. Line extensions are more common than new products because they are a less expensive, lower-risk alternative for increasing sales.

What is the most likely result of a co branding effort between two brands that have completely different customers quizlet?

What is the most likely result of a co – branding effort between two brands that have completely different customers? The entire effort will fail for both brands.

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When a brand expands into a new product category the product is referred to as a?

When a brand expands into a new product category, the product is referred to as a. brand extension.

What is an example of line extension?

A line extension is when a parent brand launches a new product line in a category already familiar with its customers. With a line extension, brands don’t have to create new categories. An excellent example of a line extension is when soft drink companies introduce new flavors to their existing drink lineup.

Which is an example of a company using brand extension?

Apple (AAPL) is an example of a company that has a history of effectively using a brand extension strategy to propel growth. Starting with its popular Mac computers, the company has leveraged its brand to sell products in new categories, as can be seen with the iPod, the iPad, and the iPhone.

What is the difference between a line extension and a brand extension quizlet?

What is the difference between a line extension and a brand extension? A line extension uses a current brand name to enter a new market segment in its product class, whereas a brand extension uses a current brand name to enter a completely different product class.

What is the difference between a line extension and a brand extension?

Line extensions occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes. This is as opposed to brand extension which is a new product in a totally different product category.

What is the key difference between a product modification and a line extension?

A line extension is the development of a product closely related to one or more products in the existing line but designed specifically to meet different customer needs. Product modification is the changing of one or more characteristics of a product.

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What are the two basic types of brand ownership strategies?

What are the two basic Brand Ownership Strategies? Brand Ownership Strategy which is owned and managed by retailers with no national advertising. Tactic in which companies use same brand name in a different product line. Tactic in which companies use same brand name within same product line.

What is product line length?

Product Line length refers to the number of products /brands that come under a single product category/ line.

What is co branding strategy?

Co – branding is a marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance. Also known as a brand partnership, co – branding (or ” cobranding “) encompasses several different types of branding collaborations, typically involving the brands of at least two companies.

What are the four product market growth strategies?

The Product Market Expansion Grid offers four main suggested strategies: Market Penetration, Market Development, Product Development, and Diversification.

What is product line strategy?

Product lines are created by companies as a marketing strategy to capture the sales of consumers who are already buying the brand. Product lines can vary in quality, price, and target market. Companies use product lines to gauge trends, which helps them to determine which markets to target.

What is product line example?

“A product line is a group of related products produced by one manufacturer. For example, products that are intended to be used for similar purposes or to be sold in similar types of shops.” If you have several products with something in common, you can put them into one group.

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