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Explain What Steps Firms Should Take to Prevent the Potentially

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Explain what steps firms should take to prevent the potentially negative consequences of brand extensions.


Definitions:

P.T. Barnum

A 19th-century American showman and businessman known for promoting celebrated hoaxes and for founding the circus that became the Ringling Bros. and Barnum & Bailey Circus.

Reality Television

A genre of television programming that documents unscripted real-life situations, often featuring unknown individuals rather than professional actors.

Valdez Oil Spill

A major environmental disaster that occurred when an oil tanker spilled millions of gallons of crude oil into Alaska's Prince William Sound in 1989.

Business Ethics

A process or theory in which companies are expected to conduct their business in an open and honest way to gain market acceptance and build a solid reputation.

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