What are the four strategies marketers can use to develop their brands?

Question

BlackTom AI · Accepted Answer

The question asks: What are the four strategies marketers can use to develop their brands?

Option 1: 'Line extensions, line stretches, new products, and new brands' uses 'line stretches' which is not a standard term typically taught in brand development models; 'line extensions' is standard, but the pairing with 'line stretches' makes this choice inaccurate.

Option 2: 'Line extensions, brand extensions, multibrands, and new products' includes 'new products' rather than 'new brands.' While introducing new products is a common activity, the classic brand-development framework emphasizes the option of creating entirely new brands rather than repeatedly categorizing activities as 'new products' when discussing brand strategy options.

Option 3: 'Line extensions, brand extensions, multibrands, and new brands' lists the four well-known brand development strategies: extending an existing line, extending the brand to new product categories (brand extensions), creating multiple brands under a parent company (multibrands), and launching new brands under the company (new brands).

Option 4: 'Line extensions, brand extensions, multibrands, and line stretches' again uses 'line stretches,' which is not a standard category, and thus this option mislabels one of the strategies.

Option 5: 'Line mixing, brand extensions, multibrands, and new brands' introduces 'line mixing' as a category, which is not recognized in standard brand development frameworks, making this option incorrect.

In summary, only Option 3 aligns with the established four-brand-development strategies commonly taught in marketing: line extensions, brand extensions, multibrands, and new brands. The other options substitute or invent terms that do not correspond to standard strategic categories, creating inaccuracies in the list.

Homework: Ch 07 Warm up

What are the four strategies marketers can use to develop their brands?

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