Alongside its midrange Corolla model, Toyota added the Camry to serve the upper end of the car market, and the Vios to serve the compact car market. It also introduced the Lexus as a premium offering for the luxury car segment. This is an example of a firm that successfully performed a ________ to reach more consumers and ventures that are more profitable.

Question

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Toyota's strategy of adding the Camry, Vios, and Lexus alongside the Corolla is an example of a two-way stretch, as it involves expanding both upwards and downwards in the market.

Alongside Its Midrange Corolla Model, Toyota Added the Camry to Serve