An upmarket extension refers to introducing a brand at a higher price point.

• A. Brand repositioning
• B. Upmarket extension
• C. Product line extension
• D. Market penetration

Answer: (B)

Extending a brand into higher price tiers to reach a premium segment is an upmarket extension. This specific strategy uses the same brand to offer more premium, higher-priced products, leveraging existing equity rather than creating a new brand or broad image change. It differs from brand repositioning, which involves shifting the brand’s overall image and target audience, not just adding pricier items. It also isn’t a product line extension, which adds new products within the current range (often at similar price points) rather than moving up-market. Market penetration focuses on selling more of the current offerings in the same market, typically through promotions or price cuts, not raising prices.