Reducing the Number of Features, Qualities, or Price When Repositioning

question 303

Multiple Choice

Reducing the number of features, qualities, or price when repositioning a product is referred to as

• A) product paring.
• B) down trading.
• C) product deflation.
• D) trading down.
• E) product simplification.

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Definitions:

401k Plan

A retirement savings plan offered by many American employers, allowing employees to save and invest a piece of their paycheck before taxes.

Employer's Contribution

Money that an employer adds to an employee's benefits, such as a retirement plan or health insurance.

Allowable Contribution

The maximum amount that can legally be contributed to a particular savings account or investment vehicle, often pertaining to retirement accounts.

Term Life Insurance Policy

A life insurance policy that provides coverage at a fixed rate of payments for a limited period of time, the relevant term.