When a Company Introduces a New Brand Name in the Same

question 149

True/False

When a company introduces a new brand name in the same product category,it is called line extension.

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Definitions:

Liability Insurance Policy

A financial product that provides the insured party with protection against claims resulting from injuries and damage to people and/or property.

Insurable Interest

The stake or financial interest an individual or entity has in the potential loss of something insured, ensuring they suffer a direct loss if an insured event occurs.

Good Faith

A sincere intention to deal fairly with others without any intention to deceive or commit fraud.

Coinsurance Clause

A provision in an insurance policy requiring the policyholder to bear a portion of the costs of a claim, reducing the insurer’s risk.