Answer: Brand Equity
Explanation:
Brand equity refers to a value premium that a company generates from a product with a recognizable name when compared to a generic equivalent. This allows the creation of other products under that brand (brand extension).
An example of brand extension is Apple corperation. They started with computers and extended to other products such as iPods and phones. This is possible under brand equity. Retaining the brand name and extending it via the introduction of new products.
Answer:
a. product differentiation
Explanation:
Product differentiation is the process whereby a product or service is distinguished from others. This is to make it more attractive to a particular segment of the market which is quite different from the general market.
For Huy Fong trying to introducing a new milder version of its renowned Sriracha hot chili, it would represent product differentiation.
