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Products carry existing brand names or assigned
new brand names depending on the branding
approach the company wants to apply. For instance, if the company choses,
Individual Product Branding – new products are assigned new names with connection
to existing brands offered by the company. Advantage of this approach is it
allows brands to stand on their own thus lessening threats that may occur to
other brands marketed by the company.
Family Branding – new products are
placed under the umbrella of an existing brand.This
approach enables the organization to rapidly build market awareness
and acceptance since the brand is already established and known to the market
Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 1st, 2015
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