Have you been a consistent buyer of the same product for a long time? Or did you decide to change your mind once a new product was introduced? People are drawn to new products because they are curious. We always opt to support the new product when it is introduced by the same manufacturer rather than the previous one. As a result, there is a decline in demand for outdated product, which has an impact on market share. As a result, the market becomes cannibalised. As a result, the new product is not widely introduced since the manufacturers do not want to reduce the market value of their current products.  Browse through this PPT to learn more about the subject.

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