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_______ refers to changing one or more of a product's characteristics; while, a _______ is the development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs.

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Answer: PRODUCT MODIFICATION refers to changing one or more of a product's characteristics; while, a LINE EXTENSION is the development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs.

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