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Masco Is the Name of a Well-Recognized Company in the Construction

question 172

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Masco is the name of a well-recognized company in the construction industry.It produces cabinetry,furniture,lighting,and plumbing fixtures for the upper-end homeowner and builder.One of the divisions of Masco is the Delta Faucet Company,which is the leader in the faucet industry.Delta Faucet was founded in 1955.Over the decades,it has developed a legacy based on well-crafted,high-quality products.Since the 1970s,Delta has focused its energies on building loyalty with the builder marketplace.Research in 2007 showed that while builders respect the Delta faucet for its quality,durability,and dependability,household consumers were not enamoured with Delta products.Due to the number of new magazines and television programs devoted to home style,homeowners wanted faucets that were chic and stylish.This was not the image of the Delta Faucet.To change its image,Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners.It adopted a new slogan,"Beautifully Engineered."
-Refer to Delta Faucet Company.Since Delta was already marketing to homeowners (although not very successfully) ,its development of new styles of faucets to appeal to this underserved market would be an example of which strategy?

Definitions:

General Knowledge

General knowledge entails a broad range of facts, information, and understanding across various subjects and areas, typically accumulated over time through education and experience.

Anchoring Phenomenon

A concept in psychology where initial exposure to a number or value serves as a reference point and influences subsequent judgments.

Subsequent Estimates

Revisions or new calculations made after initial estimates, often based on additional data or changes in a project or situation.

Sunk Cost Effect

A bias in decision making in which already “spent” costs unduly influence decisions on whether to continue.