Which of the following is a primary advantage of brand extension for a company?
1
It requires minimal investment to develop new products.
2
It ensures that new products automatically become successful without significant marketing.
3
It allows companies to leverage existing brand equity and customer loyalty for new product lines.
4
It provides immediate cost savings by eliminating the need for product research and development.
5
It guarantees that customers will perceive the new product as superior to competitors’ offerings.