Introducing new features-targeting different market segment, Marketing Management

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Introducing new features-targeting different market segment

Problem: TechGizmo, a company known for its innovative gadgets, launches a new smartwatch. Initial sales are high, but they start to decline after six months. The company decides to revamp its marketing strategy to extend the product lifecycle. Statement: "Introducing new features and targeting a different market segment can effectively extend the product lifecycle of TechGizmo's smartwatch." • True or False?

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Marketing Management: Introducing new features-targeting different market segment

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Marketing Management: Introducing new features-targeting different market segment

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