When a company's marketing team introduces a new brand within a product category where it already has brands in an effort to appeal to target markets the team believes is not being reached by the company's main brand,which is being used?

Question

Quizplus · Accepted Answer

This is an example of a flanker brand strategy, where a new brand is introduced in a product category where the company already has existing brands. The new brand (flanker brand) is intended to appeal to a specific target market that the company's main brand may not be reaching effectively. Brand extension refers to introducing a new product category under an existing brand, while private brand refers to a brand that is exclusively sold by a particular retailer. Complementary brand is not a relevant option in this context.

When a Company's Marketing Team Introduces a New Brand Within