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02-11-2022
Business

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capitalizing on its high brand equity, phonetastic, a manufacturer of cell phone accessories, introduces a new product, retracto, which is a retractable cell phone charging cord. after the successful rollout and high sales of retracto, the company soon discovers that the sales volume of its existing phone chargers have dropped significantly. which phenomena does this scenario exemplify? multiple choice market development cannibalization market diversification co-branding rebranding

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