Explain Why Price Levels Are Lower in Poorer Countries

question 59

Essay

Explain why price levels are lower in poorer countries.

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Definitions:

Line Extension

The introduction of additional items in the same product category under the same brand name, often in different flavors, forms, colors, sizes, or types.

Brand Extension

The strategy of using an existing brand name to launch a new or modified product in a different product category or market segment.

Brand Dilution

The weakening of a brand's power or value due to overextension, overexposure, or poor management decisions.

Brand Extension

A marketing strategy where a company uses an existing brand name to introduce a new product or category to the market, leveraging the existing brand's equity.