Act as a seasoned Product Manager with 10+ years of experience in competitive markets. Develop a comprehensive strategy to mitigate product cannibalization for [COMPANY NAME]'s [PRODUCT LINE]. Consider factors like [TARGET AUDIENCE SEGMENTATION], [PRICING TIERS], and [MARKET POSITIONING]. Provide actionable steps to balance innovation with existing product revenue, ensuring minimal overlap while maximizing growth. Include examples of successful pivots or repositioning tactics from similar industries. Your response should be data-driven, referencing [KEY METRICS] such as customer retention, market share, and incremental revenue impact.