Using an Existing Brand Name to Introduce a Product That

question 124

Multiple Choice

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar market seems like a good idea. Several years ago, disposable pen, lighter, and razor maker Bic introduced perfume under the Bic brand name and it failed quickly. This innovation strategy is known as a

• A) radical invention.
• B) product line extension.
• C) disruptive innovation.
• D) product deletion.
• E) brand extension.

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Definitions:

Easier Solve

The approach or method that simplifies the process of finding a solution to a problem, making it less complex to resolve.

Simple Majority

A voting requirement where more than half of the votes cast by members entitled to vote is sufficient for decision-making.

Decision-making

The cognitive process of selecting a course of action from among multiple alternatives.

Minority Opinions

Perspectives or viewpoints held by a small segment of a group, which often differ from the dominant or majority views.