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Fred Johnson has worked hard all of his life to make a decent living for himself and his family.However,in recent years he has become obsessed with a fear of being ruined,either because of losing his job or losing all of his savings.According to clinical psychologists,Fred Johnson's fear of being ruined is equated to ________.
Existing Product
A product that is already available in the market, as opposed to a new or forthcoming product.
Improved Version
An updated iteration of a product that is enhanced to offer better performance, additional features, or other improvements over the original.
Joint Venture
A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.
Local Market Knowledge
Understanding of the specific dynamics, consumer behaviors, and competitive landscape in a particular geographic area.
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