When Kraft Foods launched Oreo brand cookies in China in 1996,they found that Oreo was too sweet for the Chinese palate,and the price was too high.Oreo reformulated a less-sweet chocolate-covered wafer and reduced its price.This strategy is referred to as product extension approach.

Question

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The statement accurately describes the product extension approach used by Kraft Foods in China when launching Oreo cookies. They reformulated the product to better suit the local consumer preferences and adjusted the price to be more competitive in the market.

When Kraft Foods Launched Oreo Brand Cookies in China in 1996,they