A Brand Extension Is

question 181

Multiple Choice

A brand extension is:

• A)a group of related core products sold under one name.
• B)the creation of a logo which further explains the brand.
• C)the design of a public relations campaign to support a brand.
• D)using an established brand name on goods or services not related to the core brand.

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Definitions:

Behavioral Economics

This discipline of economics examines the role of psychological, cognitive, emotional, cultural, and social aspects in shaping the economic choices of both individuals and institutions.

Neoclassical Economics

A framework within economics that focuses on the determination of goods, outputs, and income distributions in markets through supply and demand.

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe the existing state, a future outcome, or more than one possible outcome.

Fairness

The impartial and just treatment without favoritism or discrimination; in economics, often related to equitable distribution of resources and opportunities.