Final Answer:
The statement is true as the Sony Walkman exemplifies combination branding, merging the corporate name "Sony" with the product name "Walkman" for a distinct brand identity, leveraging Sony's reputation for the product's success.
Step-by-step explanation:
The statement that the Sony Walkman is an example of combination or tiered branding, where a corporate name is combined with a product name, is true. Sony, the corporate name, is combined with the product name "Walkman" to create a distinct brand identity. This marketing strategy helps leverage the reputation and recognition of the parent company while establishing a unique identity for the product in the market.
Combination branding involves attaching a recognized corporate name to a specific product, enhancing its credibility and consumer trust. In the case of the Sony Walkman, the "Sony" brand signifies quality, innovation, and reliability, which positively influences consumers' perception of the Walkman as a high-quality portable music player.
This branding strategy not only benefited Sony by associating its name with a successful product but also allowed the Walkman to gain widespread recognition and market dominance during its era.
The synergy between the corporate and product names played a pivotal role in the Walkman's success, establishing it as an iconic and revolutionary device in the history of portable music technolog.Therefore the statement is true.