There are a number of specific roles brands can play as part of a brand portfolio. List and briefly describe the four roles

What will be an ideal response?

The four roles are:
1. flankers — or fighting brands. These are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning
2. cash cows — some brands may be kept around despite dwindling sales because they still manage to hold on to a sufficient number of customers and maintain their profitability with virtually no marketing support. These "cash cow" brands can be effectively "milked" by capitalizing on their reservoir of existing brand equity
3. low-end entry-level — the role of the relatively low-priced brand in the portfolio often may be to attract customers to the brand franchise. Retailers like to feature these "traffic builders" because they are able to "trade up" customers to a higher-priced brand
4. high-end prestige — the role of a high-priced brand in the brand family often is to add prestige and credibility to the entire portfolio.