Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.This is what Bic did when it introduced __________,and it failed quickly.

Question

Quizplus · Accepted Answer

Introducing a product that is completely different from the company's existing products (e.g., pens and lighters) into a completely new and unfamiliar market (e.g., disposable underwear) is a risky move. Bic's attempt to use its established brand name to sell disposable underwear was a failure because the market was unfamiliar with the company in that product category, and the existing loyal customers of Bic's other products did not have any interest in buying the new product. Additionally, the company lacked the expertise and experience necessary to make a successful venture into this particular market.

Using an Existing Brand Name to Introduce a Product That