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A mono-product refers to a product strategy where a company focuses exclusively on a single product or a limited range of products, rather than diversifying its offerings. This approach allows businesses to concentrate their resources, marketing efforts, and expertise on perfecting and promoting that specific product. It can lead to a strong brand identity and customer loyalty, but may also pose risks if market demand shifts or if competition increases. Companies often adopt a mono-product strategy to establish a niche market or to simplify operations.
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