Line Extension Refers to Extending an Existing Brand Name to New

question 157

True/False

Line extension refers to extending an existing brand name to new product categories.

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Definitions:

Vacation Travel

The act of traveling for pleasure or leisure to destinations away from one's usual environment.

Supply Curve

The supply curve is a graphical representation of the relationship between the price of a good or service and the quantity supplied by producers, typically sloping upwards indicating a higher quantity supplied at higher prices.

Demand Curve

A graphical representation showing the relationship between the quantity demanded of a good and its price.

Equilibrium Price

The cost at which consumer demand for a product matches the amount producers are willing to supply, resulting in a stable market.