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MAR 3023 EXAM 3 UCF-(ACTUAL / ) QUESTIONS AND
VERIFIED ANSWERS.
Corporate or family brands a firm using its own corporate name to brand all its product lines and products so the individual brands benefit from the overall brand awareness associated with the family name
corporate and product line brands The use of a combination of family brand name and individual brand name to distinguish a firm's products.
Individual brands the use of individual brand names for each of a firm's products
Brand Line Extension Using an established product's brand name to launch a new, slightly different item in the same product category.
Advantages to using the same brand name for new products
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brand dilution occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold
What firms should consider in order to prevent negative consequences of brand extensions
Cobranding when established brands from different companies join forces to market the same product
brand licensing a contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee
brand repositioning a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences
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