Trading Up Refers to

question 281

Multiple Choice

Trading up refers to

• A)adding product features but reducing the price.
• B)changing the distribution channel to a higher quality retailer.
• C)adding value to the product (or line) through additional features or higher-quality materials.
• D)redistributing marketing resources from a target market that is performing poorly to the market segment that demonstrates the greatest potential for future growth.
• E)offering consumers a trade allowance when they purchase a more expensive model or version of the product.

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Definitions:

Narrow Product Line

An approach where a business offers a limited assortment of products or services within a particular category.

Industrial Services

Services offered to businesses involved in manufacturing or industrial sectors, including maintenance, cleaning, and consulting.

Legal Counsel

Legal advice provided by lawyers to individuals, organizations, or corporations on legal matters.

Ancillary Services

Secondary services that support or complement the primary services of an organization or system.