cannibalizationiin
Cannibalization in a business context refers to the reduction of sales volume, revenue, or market share of one product or service by a company's introduction of a new, similar product or service. This often occurs when a company launches a new offering that appeals to the same customer base as its existing products, leading to customers switching from the older product to the newer one. While it can appear detrimental on the surface, cannibalization is sometimes a strategic move by companies.
Companies may deliberately cannibalize their own products to stay competitive, prevent rivals from gaining market share,
Furthermore, cannibalization can be a sign of innovation and adaptation. By offering new and improved products,