What are the four main Brand Development strategies. Mention two key factors to consider when selecting a brand name? How can a well-planned brand contribute to a company's success? Discuss and provide.
A) Product extension, line extension, brand extension, and new brand creation; memorability and uniqueness; increased brand recognition and customer loyalty; examples to support your points.
B) Product differentiation, market penetration, market development, and diversification; cultural appropriateness and linguistic meaning; enhanced market competitiveness and profitability; real-life case studies.
C) Brand positioning, brand repositioning, brand revitalization, and co-branding; simplicity and relevance; improved brand visibility and market share; practical illustrations.
D) Product innovation, market research, strategic partnerships, and digital marketing; visual appeal and trademark availability; expanded market reach and brand equity growth; comparative analyses.
