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The development of a product that is closely related to one or more products in the existing product line, but designed specifically to meet somewhat different customer needs is best described as a(n) _______.

User JiniKJohny
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Answer:

Line extension

Step-by-step explanation:

Line extension refers to a situation where a company introduces a new product that is related to an existing product line.

Line extension is designed to meet the needs of a particular segment of the market.

The new product could be described with a different flavor, colour, ingredients, size etc.

For instance, Coca-Cola is an existing product, if the company that produces Coca-Cola decides to introduce Coca-Cola with zero sugar.

The ingredients has changed and the new Coca-Cola with zero sugar is now designed to meet the needs of a particular segment of the customers which is the diabetic patient.

User Jayakumar Bellie
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