Product Repositioning Is

question 144

Multiple Choice

Product repositioning is

• A) the place a product offering occupies in consumers' minds on important attributes.
• B) using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.
• C) changing the place an offering occupies in consumers' minds relative to competitive products.
• D) the practice of selling a firm's least successful product line and redirecting that revenue into a totally new product.
• E) the competitive advantage of one product over another.

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Definitions:

Perpetual Inventory System

A system of accounting for inventory wherein sales or purchases are immediately documented utilizing computerized point-of-sale systems along with enterprise asset management software.

Return of Merchandise

The process where goods are returned to the seller from the buyer, often due to defect or dissatisfaction.

Accounts Payable

Liabilities of a business that represent amounts owed to suppliers or creditors for goods and services received but not yet paid for.

Balance Sheets

Financial statements that summarize a company's financial position at a specific point in time, detailing assets, liabilities, and shareholders' equity.