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Organizations use this strategy to increase and leverage brand equity (definition: the net worth and long-term sustainability just from the renowned name). An example of a brand extension is Jello-gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product ...
Advertising management is a complex process that involves making many layered decisions including developing advertising strategies, setting an advertising budget, setting advertising objectives, determining the target market, media strategy (which involves media planning), developing the message strategy, and evaluating the overall ...
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Guerrilla marketing is an advertising strategy which increases brand exposure through the use of unconventional campaigns which initiate social discussion and "buzz". This can often be achieved with lower budgets than conventional advertising methods, allowing small and medium-sized businesses the chance to compete against larger competitors.
Co-branding is a marketing strategy that involves strategic alliance of multiple brand names jointly used on a single product or service. [1] Co-branding is an arrangement that associates a single product or service with more than one brand name, or otherwise associates a product with someone other than the principal producer. The typical co ...
Multiple brands may divide the market and split efforts within one company; [6] Risk of undesired market cannibalism; Brand creation incurs a high cost in marketing, advertising and sales promotion; [7] Launching new products as their own brand is higher risk: new brands lack acknowledgement and customer loyalty and need to find recognition. [8]
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