Examlex
Summarize how a company would utilize two of Porter's four competitive strategies.Give examples of each.
Brand Extension
The practice of using an established brand name on a new product category, leveraging the brand's existing reputation and customer base.
Product Category
A broad classification that groups products based on common characteristics or needs.
Product Line Extension
The addition of new products to an existing product line within the same brand, usually to target a different customer segment or fill a gap in the product offering.
New-Product Strategies
The plans and approaches a business undertakes to bring new products to the market effectively.
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