Trading Up Refers to

question 53

Multiple Choice

Trading up refers to

• A) adding product features but reducing the price.
• B) changing the distribution channel members to higher-service-quality retailers.
• C) adding value to the product (or line) through additional features or higher-quality materials.
• D) reallocating marketing resources from a poor-performing target market to one that demonstrates greater potential for future growth.
• E) offering consumers a discount when they purchase a more expensive version of the product.

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Definitions:

Intellectual Capital Equation

A formula used to quantify the value of an organization's collective knowledge, including human, structural, and relational capital.

Competency

A combination of skills, knowledge, and behavior that is required to effectively perform specific tasks or roles within an organization.

Commitment

A pledge or obligation to do something, often requiring dedication and hard work, such as in a relationship or job.

Job Migration

What occurs when firms shift jobs from a home country to foreign ones.