Adding Value to the Product (Or Line) Through Additional Features

question 228

Multiple Choice

Adding value to the product (or line) through additional features or higher-quality materials is referred to as

• A) trading up.
• B) trading down.
• C) product enhancement.
• D) product extension.
• E) quality infusement.

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Definitions:

Thorough Research

Comprehensive and detailed investigation into a subject to gather information, facts, and data.

Price Point

The selling price of a product or service, often considered in the context of what the market will bear or competitive positioning.

Whole-House Weather Blanket

This is a term usually associated with insulation techniques designed to improve the energy efficiency of a home by providing a consistent thermal barrier.

Scientific Experiment

A structured procedure carried out to test a hypothesis, gather data, and provide empirical evidence.