Which of the Following Brand Strategies Is Being Used When

question 47

Multiple Choice

Which of the following brand strategies is being used when the local ice cream shop decides to add a new flavor to its menu?

• A) a line extension
• B) a brand extension
• C) a copycat brand
• D) a premium brand
• E) a multi-brand
• A line extension is the use of the same brand name within the same product line and represents an increase in a product line's depth.

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Definitions:

Substantial Performance

A legal concept indicating that if a party has performed enough of its contractual obligations, it may still enforce the contract despite minor breaches.

Uniform Commercial Code

A comprehensive set of laws that govern commercial transactions in the United States to standardize and simplify the legal process.

Insolvent Seller

A seller who cannot meet their financial liabilities as they become due.

Liquidated Damages

A predetermined amount of money that must be paid as compensation for failure to perform under a contract.