Explain the Difference Between Line Extensions and Product Category Extensions

question 86

Essay

Explain the difference between line extensions and product category extensions.

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Definitions:

Foreign Producers

Companies or individuals that manufacture or provide services in one country for consumption in another country.

Domestic Producers

Local or national firms and individuals that produce goods and services within a country.

Free Trade

The absence of tariffs, duties, or trade barriers between countries, allowing for the unrestricted exchange of goods and services.

Sold Quantity

The total number of units of a product sold within a specific time period.