Question

When Proctor & Gambol announced that it will be eliminating many of its brands and only keeping the top 70-80% of the brand in each category it was an example of:_____.

Answer 1

When Proctor & Gambol announced that it will be eliminating many of its brands and only keeping the top 70-80% of the brand in each category it was an example of: Selective product and marketing pruning

Companies in decline or maturity typically have multiple brand product lines that are only slightly profitable, if at all. One tactic is to stop making money-losing products, stop dealing with customers who aren't profitable even though they're annoying, and put all of your energy into a small number of successful ventures. Brand is a commercial and marketing idea that aids in the widespread recognition of a specific business, product, or person. Names of products and services are examples of intangible assets because they cannot be physically held. Therefore, they have a significant role in shaping how consumers think about a business, a brand, or an individual. Brands often employ distinguishing characteristics to develop their identities in the consumer market. They are of great benefit to the user, providing them an advantage over similar businesses. Because of this, many organizations want to secure trademarks to safeguard their names and logos.

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