Question

Proton corp. is an automobile manufacturer known for producing efficient, durable, and low-priced cars. recently, the company launched a new range of luxury cars to broaden its market appeal and to add prestige to its existing line of cars. this is an example of ________.

Answer 1

The example that is being shown in the scenario above is an example of product line stretching. A product line stretching is a way of having to implement or provide a strategy for a company in terms of their new products in a way of how they should expand it.