New products that share brand name with a familiar established product are known as:
A)brand extensions
B)market leaders
C)niche brands
D)market underdogs
E)growth brands

Question

Quizplus · Accepted Answer

Brand extensions are new products that share the same brand name with an established product in order to leverage the existing brand equity and increase brand awareness. This strategy is often used by companies to introduce new products into the market quickly and efficiently, as consumers are already familiar with the brand name and its reputation.

New Products That Share Brand Name with a Familiar Established