Describe the four Brand Development Strategies - Line extensions, Brand extensions, multi-brand and new branding - and when you would use each?
-Line Extensions: extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category
>company might introduce line extensions as a low-cost, low-risk way to introduce new products; might want to meet consumer desires for variety, use excess capacity, or command more shel space from resellers
-Brand Extensions: extending an existing brand name to new product categories
>create immediate new-product familiarity and acceptance at lower development costs
-Multibranding: marketing many different brands in a given product category
>offers a way to establish different features that appeal to different customer segments, lock up more reseller shelf space, and capture a larger market share
-New Branding: creating a new brand name entirely for new product lines
>used when company enters a new product category for which none of its current brand names is appropriate
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