Identify and Describe the Three Major Ways to Modify Existing

question 18

Essay

Identify and describe the three major ways to modify existing products, and give an example of each.

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Definitions:

Target Marketing Strategies

Plans developed to attract and satisfy specific groups of customers or market segments.

Noncustomers

Individuals or entities that are not currently purchasing or using a company's products or services but may do so in the future.

Consumer Buying Process

The steps that consumers go through before, during, and after making purchases, including problem recognition, information search, evaluation, decision, and post-purchase behavior.

Marketing Activities

Tasks and operations such as advertising, sales, promotions, and market research undertaken by a company to promote its products or services.