Trading Up Refers to

question 53

Multiple Choice

Trading up refers to

• A) adding product features but reducing the price.
• B) changing the distribution channel members to higher-service-quality retailers.
• C) adding value to the product (or line) through additional features or higher-quality materials.
• D) reallocating marketing resources from a poor-performing target market to one that demonstrates greater potential for future growth.
• E) offering consumers a discount when they purchase a more expensive version of the product.

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Definitions:

Professional Attire

The clothing that meets the formal or semi-formal dress code standards of a workplace or profession.

Annual Sales

The total revenue generated from the sale of goods or services over the course of a year.

CCA Class

A categorization within the Canadian taxation system specifying the depreciation rate applicable to different types of property or equipment for tax purposes.