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A Product Line Extension Strategy Involves Making Additional Versions of a Product

question 17

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A product line extension strategy involves making additional versions of a product so that it will appeal to a different clientele or making related products to sell to the same clientele.


Definitions:

Personal Income Tax

A tax levied by government on individuals or households based on their total yearly income from all sources.

Consortium

A group of companies or institutions formed to undertake an enterprise or project together, often pooling resources for a common goal.

Market Advantage

Market advantage refers to a strategic edge one company holds over competitors within its industry or market, often leading to stronger sales or brand loyalty.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and is recognized as such by law with rights and liabilities that are distinct from those of its members.

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