What is Cannibalization?

In marketing strategy, cannibalization refers to a reduction in sales volume, sales revenue, or market share of one product due to the introduction of a new product by the same producer.

Market cannibalization is a loss in sales caused by a company's introduction of a new product displaces one of its own older products. The cannibalization of existing products leads to no increase in the company's market share despite sales growth for the new product.

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