Glossary

Brand extension or Brand Stretch is a marketing strategy used by CPG companies who seek to extract maximum value from established brands by using the same brand name in a new product category. For example, the Virgin family of companies started as a record shop, then became a record label and now has businesses in a very diverse set of markets from transport to services.

Also brand leveraging. See brand extension.

An acronym for Brazil, Russia, India, and China. In 2003, these countries were identified as developing nations with large growth potential. At that time, economic forecasts indicated that BRIC together would become wealthier, and control a greater proportion of global manufacturing and services, than the traditional leading Western economic powers at the time.

A broker is an intermediary between buyer and seller. A broker facilitates and enables a buyer and seller to complete a sales transaction. In strict legal terms, this is different to an agent, who acts on behalf of either buyer or seller. Brokers earn the fees and commissions they charge in many different ways, ranging from research, market knowledge and contacts to promotional programs, product management and sales administration services.