Developing additional products to serve more narrowly targeted,or different,market segments is known as:

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Line extension refers to developing additional products within the same product line to cater to different market segments. This strategy allows the company to address the specific needs and wants of different customer groups, increase brand loyalty, and generate more revenue without investing in creating an entirely new product line. Cobranding and individual branding relate to the marketing and branding strategies, and line stretch involves extending the product line to new and unrelated markets.

Developing Additional Products to Serve More Narrowly Targeted,or Different,market Segments