What is brand? Why do brands play a particularly important role in high-involvement purchase decisions? (5 marks)b) When developing brands within a product mix, marketers may decide to pursueindividual brands, family brands or brands extension. Explain what each of theTHREE (3) branding strategies means. Provide one example for each brandingstrategy. (6 marks)c) Which branding strategy(ies) does Schweppes use for its new water enhancersbrands? Justify your answers. (4 marks)

a) A brand is a distinguishing symbol, mark, logo, name, word, sentence or a combination of these items that companies use to distinguish their product from others in the market. Brands play a particularly important role in high-involvement purchase decisions because they reduce perceived risk and uncertainty, provide a form of self-expression, and offer functional benefits. For example, a consumer is more likely to purchase a branded laptop because they trust the quality and performance of the product.

b) Individual branding is when each product a company sells has its own brand name. For example, Procter & Gamble sells Tide, Pampers, and Crest, each with its own brand identity. Family branding is when a company sells multiple products under one brand name. For example, Apple sells iPhones, iPads, and Macs all under the Apple brand. Brand extension is when a company uses a successful brand name to launch a new or modified product in a new market. For example, Coca-Cola used its well-known brand name to launch Diet Coke and Coca-Cola Zero.

c) Schweppes uses brand extension for its new water enhancers brands. This is because Schweppes is already a well-known brand and by using its name for the new product, it can leverage the existing brand equity to gain immediate recognition and faster acceptance. The new product also benefits from the Schweppes brand's existing associations with quality and trust.