The liquor industry is attempting to revive the stagnant spirits industry by introducing low-alcohol cocktails such as Jack Daniel's Country Cocktails,Smirnoff Quenchers,and Southern Comfort Cocktails.These activities are known as product line extensions.

Question

Quizplus · Accepted Answer

The statement is true. Product line extensions are a common strategy to revitalize a stagnant industry by introducing new products or variations of existing products. In this case, the liquor industry is introducing low-alcohol cocktails to appeal to health-conscious consumers and revive sales in the spirits industry.

The Liquor Industry Is Attempting to Revive the Stagnant Spirits