Multiple choice

A product line strategy wherein a company adds a higher priced product to a line in order to attract a broader market, which helps the sale of its existing lower priced product is called

  1. Trading up

  2. Trading down

  3. Life cycle extension

  4. Product line extension
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Trading up involves adding a higher-priced product to an existing line to enhance the brand's image and attract a more affluent market segment. This strategy can boost sales of lower-priced products by association with the premium offering, as customers perceive the entire line more favorably.

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