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In a Sluggish Economy,consumers Will Buy Even the Most Modest

question 59

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In a sluggish economy,consumers will buy even the most modest of products with the same discretion once shown only to big-ticket items,like computers,airfares,and designer clothes.The results are a growing popularity of cheaper private-label products and the likelihood that price wars among consumer goods could lead to the same kind of consolidation that occurred in the airline and electronics industries.Moreover,analysts say changing buying habits will force premium brand marketers to lower their prices to protect their positions.These companies may also upgrade products to distinguish them from private labels and promote their brands more aggressively than ever.
One analyst says that consumers are forcing product innovation.Products have to be sold on merit.As a result,there will be fewer brands of significance,but the significant brands will be stronger.Brand loyalty is believed to exist only when,or if,value is provided.How do the significant brands compete? One analyst says that a combination of sensible pricing and innovation with a strong brand name can stabilize market share.Reformulated or repackaged products are typical examples of innovative attempts to solidify market share.
-Refer to Consumer Buying Habits.Assume a product has a strong brand name,a reasonable price,and good quality.Which of the following strategies should NOT be implemented?

Definitions:

Cognitive-Behavioral Therapy

A form of psychotherapy that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systemic process.

Prognosis

A prediction of the likely course and outcome of a disease based on general health, age, and the severity of disease symptoms at the time of diagnosis.

Adolescent Depression

A mental health disorder affecting teenagers, characterized by persistent feelings of sadness, hopelessness, and a lack of interest in activities.

Cognitive-Behavioral Therapy

Cognitive-Behavioral Therapy (CBT) is a psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.