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When a retailer develops a brand name and has the manufacturer place that name on the product What is that product name called?A brand extension is when a company uses one of its established brand names on a new product or new product category. It's sometimes known as brand stretching.
What does the process of positioning involve?Simply put, positioning in marketing is a strategic process that involves creating an identity/ image of the brand or product within the target customers' minds.
What is one of the key benefits to successful branding?One of the most important benefits of branding is that it helps to promote new products and services. If people are loyal to a brand, they are automatically interested in whatever new the brand has to offer.
What type of goods includes raw materials used to produce other products?Industrial goods are materials used in the production of other goods, while consumer goods are finished products that are sold to and used by consumers.
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What is selling the rights to place a brand name on products such as t-shirts referred to as?
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