Question

Today’s companies are expected to develop brands. Explain the choices that companies have when it comes to developing brands. Support your answer with real and appropriate examples.

Answer 1

Nowadays everyone wants to build their brand. Through the brand, it also wants to attract more and more consumers and broaden the market base so that they get maximum benefit and the consumer can also get the determination.

The biggest advantage of becoming a brand is that the company proves to be more and more profitable in competition and can present itself ahead of others, so that they have more consumer influence.

a company has four choices, while developing a brand :

1) line extensions: colgate bwith hamp seed oil

2) brand extensions,:this is nothing but extension bof same brand.

Starbucks Frappuccino, Snickers Ice Cream Bars, etc

3) multibrands : a company selling similar brand as competitor but they all are independent brands. Liken Nestle,s with KitKat and nespresso

4) new brands.: first time in market and independent launch a new products and making it brand.