Market Modification Refers to

question 23

Multiple Choice

Market modification refers to

• A)strategies that alter a product's characteristics, such as its quality, performance, or appearance, to increase the product's value to customers and increase sales.
• B)a strategy for managing a product's life cycle that attempts to increase a product's use among existing customers, create new use situations, or find new customers markets.
• C)a strategy in which a company tries to find new customers and increase a product's use among users who "strayed" but will return again.
• D)a strategy whereby a firm drops its lowest producing market segment and replaces it with an entirely new target market.
• E)a strategy of blending the lowest producing market segments into one new target market in order to enjoy marketing economies of scale.

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Definitions:

Dihybrid Cross

Cross between parents that differ in two traits.

Monohybrid Cross

A genetic cross between parents that differ in one characteristic, looking at the inheritance of a single trait.

Punnett Square

Visual representation developed by Reginald Punnett that is used to calculate the expected results of simple genetic crosses.

Phenotypic Ratio

The proportion of different phenotypes observed among offspring in genetic crosses, reflecting genetic variation.