Please Define the Following Key Terms

question 58

Short Answer

Please define the following key terms.
-Nicolae Ceausescu

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Definitions:

Brand Extension

The practice of using an existing brand name to launch a product in a different category, leveraging the brand's established recognition and image.

Product Line Extension

The process of adding new variations, such as sizes, colors, or features, to an existing product line to cater to different consumer preferences.

Cannibalization

The reduction in sales of a company's existing products due to the launch of its own new products.

Brand Name

The part of a brand that can be vocalized; the name under which a series of products or services is sold, distinguishing them from competitors.