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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Explain why product extension and refinement are important.

Summary Introduction

To determine: The reasons on product extension and refinement being important.

Introduction: Product extension is a kind of branding technique. The product expansion is otherwise called line extension where a brand covers another item under an product classification it right now presents with new shading, sizes, pack size and structures. Refinements are small alterations or increases that made to something in an attempt to enhance it.

Explanation

The reasons on product extension and refinement being important are as follows:

Product extension and refinement are critical since they expand an product's life cycle...

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