The correct answer would be, Product Line Extension.
A furniture manufacturer with a reputation for making plain, lightweight foldable steel chair decides to make cushioned chairs with printed upholstery. This new type of chair will be a Product Line Extension.
Explanation:
If a company produces a product, and then starts to produce another slightly different product, then this new product will be an extension to the product line.
In the given example, the product line of a furniture manufacturer is plain, light weight foldable steel chairs, and when he decided to make cushioned chairs with printed upholstery, it means the company is extending its line of product.
It is a strategy to attract customers which have yet not paid attention to the existing product line of a company.
In this extension, the strategy is to make little changes to the existing product and market it as a new one to catch the customers' attention.
Learn more about Product line at:
https://brainly.com/question/9658084
#LearnWithBrainly
