One way to extend the product is by creating ___________.
A) Additions to existing product lines
B) New names for the same products
C) Products from a different industry to your industry
D) Products that look like the competitions but are not really different than the competitions'
E) None of the above

Question

Quizplus · Accepted Answer

Adding new products to an existing product line is a common way to extend the product offering. It allows the company to leverage their existing brand and customer base while providing additional options for customers to choose from. This strategy is often used to target new segments or fill gaps in the current product line. New names for the same products (B) and products that look like the competition but are not really different (D) do not add any value to the customer and could potentially harm the company's brand reputation. Products from a different industry (C) could be a valid choice but it may require significant investment and expertise to enter a new industry. Therefore, A is the best choice in this scenario.

One Way to Extend the Product Is by Creating ___________