Describe What a Product Line Extension Strategy Is

question 55

Essay

Describe what a product line extension strategy is. What are the advantages of this strategy? Describe a company you are familiar with that utilizes a product line extension growth strategy.

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Definitions:

Adaptability

The ability to adjust to new conditions, changes, or environments effectively.

Cohesion

The act of forming a united whole, often used to describe the sense of unity and togetherness within a group or team.

Communication

The act of exchanging information, ideas, or feelings between two or more entities, through various channels and means.