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 current brand, which is being used?

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This is an example of a flanker brand, which is a new brand introduced by a company in an effort to appeal to a specific market segment and protect the company's existing brand from market share erosion by competitors. The new brand is usually similar in quality and positioning to the existing brand, but is designed to have a distinct appeal to a specific group of consumers. Brand extension refers to the use of an existing brand name for a new product or category. Private brand (or private label) refers to a product that is manufactured by one company and sold under another company's brand name. Complementary brand refers to a brand that is positioned as complementary to another brand, and is designed to be used together with that brand.

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