Product Modification Refers to a Marketing Strategy That

question 123

Multiple Choice

Product modification refers to a marketing strategy that

• A) alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales.
• B) manages a product's life cycle to increase its use among existing customers, create new use situations, or find new customers.
• C) tries to find new customers and convince users who abandoned it to purchase again.
• D) drops the lowest producing market segment and replaces it with an entirely new one.
• E) combines the lowest producing market segment into others to achieve marketing economies of scale.

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Definitions:

Concise

Expressing or covering much in few words; brief in form but comprehensive in scope.

Brand Awareness

The extent to which consumers are familiar with the qualities or image of a particular brand of goods or services.

Circumstances

The conditions or facts affecting a situation, event, or action.

Recognition

The acknowledgment or appreciation of an individual’s achievements or an organization's success, often leading to increased motivation and morale.