Asked by Talmeez Mohammed on Jul 16, 2024
Verified
As an alternative to extending its brand through new product development, a firm can choose to increase its own brand equity by leveraging the equity of another brand using a co-branding strategy.
Co-Branding Strategy
A partnership between two or more brands to jointly market a product or service, leveraging the strengths of each to reach a broader audience.
Brand Equity
The value and strength of a brand that is determined by consumer perception, recognition, and loyalty, which ultimately influences a brand's ability to generate financial performance.
Product Development
The process of conceptualizing, designing, and creating a new product to be offered to the market.
- Analyze the benefits and risks associated with co-branding and brand extensions.
Verified Answer
Learning Objectives
- Analyze the benefits and risks associated with co-branding and brand extensions.
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