date:Oct 23, 2018
valuable assets a company possesses. It can lend credibility to product efficacy and provide an assurance of quality, letting consumers know what they can expect when they buy a product, it says.
Because brand building can be costly and time-consuming, it can be extremely advantageous for established brands to lend their name to a new item in the same category through line extensions, the report states. In fact, line extensions are approximately three to four times more common than new manufac