Asked by
Danielle Garcia
on Dec 15, 2024
Verified
When a company uses a product line extension, it
A) markets a product under a new brand name so that consumers will view it as an entirely new product line.
B) markets a new product with the current brand name to enter a new market segment in its product class.
C) speeds up the movement of a product through its product life cycle.
D) contracts with another firm to manufacture modified versions of the original products.
E) applies the current brand name to enter a completely different product class.
Market Segment
A subgroup within a larger market, defined by its own unique preferences or characteristics, targeted by marketers for specific strategies.
Product Line Extension
This involves adding new products to an existing range to attract more customers or meet their varying needs.
Product Class
A broad category of products that serve a similar function or are used in a similar manner.
- Distinguish between branding strategies grounded in product affiliation and market segmentation.
Verified Answer
TL
Learning Objectives
- Distinguish between branding strategies grounded in product affiliation and market segmentation.